Oxford Finance’s Healthcare Real Estate Group closed on approximately $131.35 million in transactions related to long-term care facilities in the first half of the year, the company announced last week.
The company’s transactions in the first two quarters also included an additional $62.6 million related to behavioral health facilities.
“Increasing interest rates and challenges in the traditional banking sector have strained capital availability,” according to the specialty finance firm, which specializes in providing senior secured loans to public and private life sciences and healthcare services companies worldwide.
Transactions completed in the first six months 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 to recapitalize two SNFs and one personal care home.
- In northern California, a $16.6 million term loan and a $3 million revolving line of credit to finance the acquisition of two SNFs.
- In Illinois, a $53.9 million term loan and a $5 million revolving line of credit to finance the acquisition of 11 SNFs and one independent living community.
Additionally during the first half, Oxford Finance provided a $56.5 million term loan and a $6 million revolving line of credit to support the acquisition of two behavioral health facilities in southern California.
Oxford Finance said its pipeline for the remainder of the year is “active.”
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