Cap. One Closes $60M for Nursing Portfolio

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.”