CHICAGO--(BUSINESS WIRE)--GE Healthcare Financial Services has provided Life Care Centers of America (LCCA) -- one of the nation's leading operators of skilled nursing, assisted living, retirement, home care and Alzheimer's centers -- with first mortgage debt financing of $22 million.
This loan will enable LCCA to finance the acquisition of two skilled nursing facilities. Additionally, LCCA will use the loan to refinance an existing construction loan on a third facility.
"Over the years we've worked with LCCA to deliver both large and small structured financing arrangements tailored to solve their business challenges," said Jason McMeen, senior vice president for GE Healthcare Financial Services. "In this particular deal we were able to move quickly to find a mutually beneficial deal structure, which included 100 percent acquisition financing by leveraging existing equity in previously financed portfolios."
"GE has been a long-term partner that's focused on helping solve our finance needs," said David Weiss, transaction advisor and member of the LCCA Board of Directors. "They were able to leverage existing equity in a previously held portfolio and move quickly on the deal -- closing within the tight timeframe that was required. This was critical to the success of the financing."
About GE Healthcare Financial Services
GE Healthcare Financial Services is a provider of capital, financial solutions, and related services for the global healthcare market. With over $16 billion of capital committed to the healthcare industry, GE Healthcare Financial Services offers a full range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physicians' practices and life sciences, GE Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit www.gehealthcarefinance.com.
Contacts
GE Healthcare Financial Services
Deia Campanelli, 312-441-6169
[email protected]
Britta Kons
GE Healthcare Global Services
[email protected]
1-203-400-1892