The healthcare real estate group of Alexandria, VA-based Oxford Finance closed approximately $241.4 million of capital commitments in long-term care in 2023, part of more than $430 million of capital commitments overall made in the year.

The long-term care-related11  transactions that were closed ranged in size from $2 million to $89 million, largely for skilled nursing, a personal care home facility and assisted living operators, the lending organization announced Tuesday.

“Heading into 2024, Oxford remains well-positioned to continue its current expansion trend into the new year and beyond,” the company said. 

In the first half of the year, Oxford closed on $131.35 million in transactions related to long-term care facilities. At that time, Oxford Finance said that its pipeline for the remainder of the year was “active.”

Transactions for the first half of 2023:

  • In Texas, a $14.25 million revolving line of credit to finance working capital needs for 29 skilled nursing facilities.
  • In Pennsylvania, a $34.1 million term loan, a $2.5 million mezzanine loan and $2 million revolving line of credit recapitalized two SNFs and one personal care home.
  • In northern California, a $16.6 million term loan and a $3 million revolving line of credit went to finance the acquisition of two SNFs.
  • In Illinois, a $53.9 million term loan and a $5 million revolving line of credit were extended to finance the acquisition of 11 SNFs and one independent living community.

In the second half of the year, Oxford Finance closed in its largest deal of the year. The company provided a $75 million term loan, a $4 million capital expenditure line and a $10 million revolving line of credit to finance the acquisition of five SNFs and refinance existing debt at five additional SNFs for an Alabama operator.

In addition, Oxford provided a $50 million term loan and a $10 million revolving line of credit to finance the acquisition of two SNFs for an expanding regional operator. 

Lastly, in Florida, Oxford provided a $67.4 million term loan and a $15 million revolving line of credit to finance the acquisition of three SNFs and three assisted living communities for an established multi-region owner in partnership with a local operator.