HARRISBURG, PA—Brooklyn, NY-based TL Management has acquired Spring Creek Rehabilitation and Health Care Center in Harrisburg, PA. Spring Creek, which has been in greater Harrisburg for more than 100 years, is a 404-bed rehabilitation and healthcare center which includes both short-term rehabilitation and long-term care facilities.
TL Management financed the acquisition with a $48 million credit facility arranged by First Niagara Bank. Matthew Huber, senior vice president of healthcare solutions for First Niagara, managed the transaction.
"It was a pleasure to work with First Niagara to secure funding that provides us with the resources needed to continue to grow while maintaining the highest quality of care for our customers across all of our senior care facilities," said Ben Reisman, vice president of corporate finance for TL Management.
TL Management owns more than 100 skilled nursing facilities around the country.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
