EBSC Lending closed a $33.2 million senior secured credit facility for a privately-held company headquartered in Pompano Beach, FL. The credit facility consists of a $19 million revolving asset-based line of credit and $14.2 million real estate term loan.
The sponsor, a post-acute care provider currently operating 11 facilities in four states, used the real estate term loan to finance the acquisition of a skilled nursing facility. The revolving line of credit provides the sponsor with additional working capital financing. EBSC served as the administrative agent on the senior credit facilities.
“Understanding a client’s needs and priorities enables us to develop a creative financing solution that fully supports their goals,” Aaron Donovan, senior vice president for EBSC Lending.
“This has been a very busy year for us, the busiest for us since our inception,” Martin Alex, president of EBSC Lending, said. “I have a team that has an unwavering commitment to excellence and we are proud to support our clients and we look forward to working with them again as they continue to grow.”