White Oak Healthcare Finance acted as administrative agent on the funding of a $185 million senior credit facility secured by 14 skilled nursing facilities in the Southeast. The total portfolio consists of more than 1,400 beds.
“Though the current operating environment in the skilled nursing industry remains challenging, White Oak remains committed to the sector and recognizes its importance in the post-acute continuum of care. This transaction presented White Oak the opportunity to continue building upon a relationship with an important client as well as partner with a best-in-class operator,” Ross Eldridge, executive vice president and COO at White Oak, said. “White Oak continues to be extremely active across all sectors and product types within the healthcare continuum. Our flexible capital, certainty of execution and experienced team allow us to grow with investors and operators in the space.”