Capital One Arranges Term Loan to Support Acquisition
Capital One Bank arranged a $168.8 million, five-year term loan for a healthcare real estate entity to facilitate the acquisition of the property underlying 25 skilled nursing facilities in Alabama, Florida and Mississippi. Capital One Bank acted as the lead agent on the financing, providing a $63.8 million secured term loan.
The 25 skilled nursing facilities were acquired by a newly formed, privately-held entity, and are triple net leased to affiliates of Gulf Coast Healthcare. The skilled nursing facilities feature over 3,200 beds and offer a full suite of nursing and long-term care services including physical therapy, occupational therapy, speech therapy, dietary management, pain management and Alzheimer’s care, among other rehabilitation treatments.
Capital One Bank’s Healthcare team partners with clients in the healthcare and long-term care industries by providing real estate loans, enterprise term loans and revolving lines of credit to address their capital needs.
Headquartered in McLean, VA, Capital One offers a variety of financial products and services to consumers, small businesses and commercial clients through a variety of channels.