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


CapitalSource Provides a $28.5MM Senior Term Loan to WESTliving

July 15, 2015, 07:43 AM
Filed Under: Healthcare

CapitalSource provided a $28.5 million senior term loan to facilitate the acquisition of an assisted living facility by WESTliving.  The facility is comprised of 180 units. Launched in 2009, WESTliving is a Carlsbad, CA based owner/operator  of senior housing.  Its signature “WESTclass” service expresses a world-class standard in hospitality and services for older adults.

“We sought out a finance partner that has a solid knowledge base and long track record of success in the healthcare sector that could provide a timely execution of the financing, given the strict acquisition timeline we were under,” said John Rimbach, CEO of WESTliving. “Having worked with Don Kelly on a number of transactions over the years, I had every confidence that he and CapitalSource were the right lending partner to get our deal to the finish line.”

CapitalSource provided the structure, flexibility and execution that WESTliving needed to secure this acquisition with the urgency and speed necessary for success. 

“CapitalSource is excited to finance John Rimbach to facilitate this acquisition for WESTliving,” noted Don Kelly, Senior Director at CapitalSource.  “WESTliving is a first class organization that provides an excellent senior housing product to the market with top tier service to its residents and their families.”

“We value our relationships, and the caliber of clients that do business with us reflect that commitment to service and execution as the cornerstone of a sound relationship,” added Kelly.

CapitalSource makes commercial loans to small and middle-market businesses nationwide. CapitalSource is a division of Pacific Western Bank, a Los Angeles-based commercial bank with over $16 billion in assets and 80 full-service branches located throughout the state of California. Pacific Western Bank is a wholly-owned subsidiary of PacWest Bancorp.

Week's News

Comments From Our Members

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