White Oak Healthcare Finance acted as sole lender and administrative agent on the funding of a $28 million senior credit facility for Granite Investment Group.
Secured by three skilled nursing facilities in Texas, the funds refinanced existing debt and provided a dividend for investors. White Oak recently financed a separate portfolio of four skilled nursing facilities in Texas for Granite.
“We are happy to have had another opportunity to work with Granite. This transaction materialized as an opportunity to provide a bridge-to-HUD financing for an under-levered portfolio. As an active lender in the space, we can optimize our offerings to meet each company’s unique business needs,” said Isaac Soleimani, managing director and partner at White Oak._x000D_
Granite Investment Group currently manages a portfolio of commercial real estate assets valued in excess of $500 million, based on purchase price, primarily comprised of senior housing facilities.
