CHICAGO--(BUSINESS WIRE)--GE Healthcare Financial Services continues to enhance its position in the senior housing market by structuring a $160 million senior-secured, 10-year first mortgage for Wakefield Capital, a Maryland based investor in senior housing properties. The financing was used to acquire 28 independent and assisted living properties in seven states.
Wakefield Capital LLC was created in May 2006, as a joint venture between Chain Bridge Capital and NorthStar Realty Finance Corporation -- a publicly traded REIT. Currently Wakefield owns over 80 senior housing properties nationwide.
"GE Healthcare Financial Services' in-depth knowledge of the senior housing industry and our company helped to create a financing solution that meets both our short- and long-term capital needs," said Ed Nordberg, CEO at Wakefield Capital. "Their team of financial experts were able to move quickly to find a mutually beneficial deal structure that positions our business for growth."
It is just this type of creative, client-focused approach, financial strength, and commitment to the senior housing market that has made GE Healthcare Financial Services a leader in senior housing lending. In fact, GE Healthcare Financial Services has lending relationships with seven of the 10 largest assisted living providers, as ranked by Provider magazine, including Emeritus Assisted Living and Atria Senior Living Group.
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.