October 24, 2016
Capital One arranged a $162.5 million senior secured credit facility for Palm Garden Healthcare, a skilled nursing and assisted living facility owner/operator. The facility consisted of a real estate term loan, a capital expenditure line of credit, and an asset-based revolver.
Palm Garden Healthcare, headquartered in (get this) owns 14 skilled nursing facilities and an assisted living center in Florida totaling 1,931 beds. The company is using the facility’s proceeds to refinance existing debt, and to expand and improve its facilities. “As Palm Garden Healthcare has evolved, they’ve needed a variety of financial solutions to maintain and grow their business,” said Capital One’s Jim Seymour.
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