Oxford Finance, a specialty finance firm providing senior debt to healthcare services and life sciences companies, closed a $28 million senior credit facility for AvantGarde Senior Living, which will use the funds to refinance existing debt on a facility located in Tarzana, CA.
Founded in 2008, AvantGarde owns and operates two luxury assisted living facilities (ALF) in California, including the subject facility, which was acquired in 2010 as a 100-room senior living hotel and converted to a 138-bed licensed ALF. AvantGarde Senior Living of Tarzana is a certified Positive Approach Community focused on providing geriatric programs, assisted care, memory care and independent living services.
“The company has a strong brand reputation in a highly affluent market,” Tracy S. Maziek, head of healthcare services at Oxford Finance, said. “AvantGarde provides a thriving senior living environment with exceptional services, care and amenities.”
“We are pleased to partner with Oxford and work with a great team of knowledgeable people,” Jason Adelman, principal and founder of AvantGarde Senior Living, said. “The firm has extensive experience in the healthcare real estate sector and proved to be dependable, flexible and timely on securing the right financing terms for us.”
