White Oak Healthcare Finance acted as sole lender and administrative agent on the funding of a $25 million asset-based senior credit facility for Aspen Skilled Healthcare, which will use funds to finance ongoing working capital.
Aspen Skilled Healthcare’s independent affiliates operate skilled nursing facilities primarily located in the Los Angeles and San Francisco metro areas.
“Aspen’s network of independent operating affiliates has consistently performed well and grown even during periods of significant uncertainty,” Ross Eldridge, executive vice president and chief originations officer for White Oak Healthcare Finance, said. “We continue to seek out partnerships with best-in-class operators like Aspen.”
“White Oak provided a flexible solution for the capital needs of Aspen’s independent operating affiliates and offered certainty of execution,” Marcus Paxman, CFO of Aspen Skilled Healthcare, said. “Their experience within the SNF industry is very deep and we are excited to have a partner for growth beside us.”
