Oxford Finance closed a $24 million senior credit facility for Lantern Group, an owner and operator of skilled nursing and assisted living facilities. Lantern Group used the funds to acquire three assisted living and memory care facilities located in Ohio: Lantern of Chagrin, Lantern of Madison and Lantern of Saybrook.
Founded in 2004 by Jean Makesh, Lantern Group is headquartered in Northeast Ohio. The company has been the operator of the three facilities since their original construction. The company will continue to operate the 219 units under the Lantern brand, which focuses on helping patients with Alzheimer’s disease and dementia.
“We are pleased to have the opportunity to work with Lantern Group,” Tracy S. Maziek, head of healthcare services at Oxford Finance, said. “The company has a clear focus on developing top-notch therapeutic care standards to manage and treat individuals with Alzheimer’s disease and other forms of dementia.”
“This buyout has been in the works for quite some time. Oxford helped us successfully navigate the few twists and turns along the way,” Makesh said.
