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Oxford Finance Closes $8MM Facility With Shady Shores Communities

September 28, 2015, 07:46 AM
Filed Under: Healthcare

Oxford Finance, a specialty finance firm that provides senior debt to life sciences and healthcare services companies, announced the closing of a $7 million senior secured term loan and a $1 million revolving line of credit with Shady Shores Communities LLC. Proceeds from the loan are being used to acquire four skilled nursing facilities in Texas.

"Oxford is pleased to have the opportunity to broaden its ongoing business relationship with Michael G. Wallace and the Shady Shores management team," said Tracy S. Maziek, managing director at Oxford Finance. "Mr. Wallace has many years of executive-level experience in the skilled nursing field and a deep understanding of his market."

"Mr. Maziek and his team at Oxford were the obvious choice as a financial partner for our new company.  We look forward to growing our relationship in the years to come," said Michael G. Wallace, chief executive officer of Shady Shores Communities.

Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $2 billion in loans, with lines of credit ranging from $500 thousand to $75 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Massachusetts and North Carolina.

Shady Shores Communities is a Texas-based, long-term care provider specializing in the operation of skilled nursing facilities, memory care facilities, and assisted living.  With its headquarters in Denton, Texas, Shady Shores Communities operates four skilled nursing facilities, with three additional campuses under development.

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