NEW YORK—Capital One Bank has just provided a $60 million secured term loan for the acquisition of a portfolio of 19 skilled nursing facilities in Indiana and Iowa. The bank has also provided a $6 million revolving line of credit to fund ongoing working capital at the facilities. This portfolio of properties has 1,163 licensed beds. A Capital One spokesperson told GlobeSt.com that the bank could not provide additional information on the properties.

“This was a complex transaction with many moving parts, but we were able to offer competitive pricing as well as a creative structure,” says Scott Rossbach, investment officer, commercial and specialty finance. “We used our deep market knowledge and a hands-on approach to develop a tailored financing solution.”

The floating-rate loan has a five-year term and Cap One structured it as a bridge to permanent HUD financing, adds Joshua Rosen, senior vice president of originations. “Capital One's ability to offer agency financing as well as balance sheet lending provides a full range of lending solutions to meet the needs of a broad range of transactions.”