Daily News: July 2, 2012

Capital One Closes $29 Million Term Loan for Ciena Healthcare

Capital One Bank announced it closed a five-year $29 million secured term loan for Ciena Healthcare, a provider of skilled nursing and rehabilitation care facilities in Michigan and Connecticut. The facility will be used to refinance three skilled nursing facilities in Michigan that were built since 2005.

“We are thrilled to provide Ciena Healthcare with capital to support its financing needs and we’re excited to build a relationship with a leading long-term care provider that focuses on, high-quality facilities, medical care and patient experiences,” said Imran Javaid, managing director, Commercial and Specialty Finance, Capital One Bank. “We look forward to developing a long-term relationship with Ciena to assist the company with its efforts to expand and to maintain its position as a market leader.”

Headquartered in Southfield, MI, Ciena Healthcare operates 32 skilled nursing communities across the state and four communities in Connecticut. The company provides long-term care and short-term rehabilitative services to thousands of residents and patients on a daily basis.

“Capital One Bank has been an excellent partner, particularly because of the group’s deep industry expertise and willingness to act quickly to provide a re-financing solution to meet our immediate needs,” said Anis Khan, CFO of Ciena Healthcare. “This new relationship will allow us to maintain high-quality care and amenities to patients at three of our Michigan facilities.”

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 all of their capital needs.