FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Capital One Provides $66MM in Skilled Nursing Portfolio Acquisition

December 22, 2014, 07:37 AM
Filed Under: Healthcare

Capital One Bank announced that it has provided a $60 million secured term loan to be used to acquire a portfolio of 19 skilled nursing facilities in Indiana and Iowa. The bank has also provided a $6 million revolving line of credit to fund ongoing working capital at the facilities. This diverse portfolio of properties has 1,163 licensed beds. 

“This was a complex transaction with many moving parts, but we were able to offer competitive pricing as well as a creative structure,” said Scott Rossbach, Investment Officer, Commercial and Specialty Finance, Capital One Bank. “We used our deep market knowledge and a hands-on approach to develop a tailored financing solution.”

The floating-rate loan has a five-year term and is structured as a bridge to permanent HUD financing, noted Joshua Rosen, Senior Vice President of originations. “Capital One’s ability to offer agency financing as well as balance sheet lending provides a full range of lending solutions to meet the needs of a broad range of transactions.”

Capital One Bank’s Healthcare team provides a wide array of banking and lending solutions to the long-term care industry, as well as the broader healthcare marketplace, including real estate loans, enterprise term loans and revolving lines of credit to address their capital needs.  In addition, Capital One Bank’s Commercial Business leverages a relationship-based banking model that seamlessly delivers products and services including loans and deposit accounts, treasury management services, merchant services, investment banking, international services and correspondent banking.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.