Daily News: October 5, 2016

AloStar Funds Three Loans Totaling $40.5 Million


AloStar recently funded three deals totaling $40.5 million through its Capital Finance platform.

AloStar committed $20 million to Capital Southwest as part of a $100 million revolver. Capital Southwest is a business development company that invests largely in middle-market companies across a variety of industries.

AloStar funded $6.3 million of a larger $15 million revolving commitment to Ritzman Pharmacies. Ritzman Pharmacies operates more than 20 pharmacies across the northeast Ohio area.

AloStar also provided a $14.2 million real estate term loan to AGNL FCSL, an affiliate of AG Net Lease Realty Fund II. The loan refinanced the mortgage on the company’s 225,000 square foot building in Jacksonville, FL, which houses the Florida Coastal School of Law.

“We’re thrilled to add these deals to our diverse and growing portfolio,” said Andy McGhee, president and CEO of AloStar. “We look forward to growing and working with these companies for years to come.”

AloStar offers capital and counsel to business with needs between $5 million and $20 million.