GMF Capital Secures $81M Refi Deal on Midwest Nursing Facilities
NEW YORK CITY—Locally-based GMF Capital, LLC has secured a $66-million senior credit facility to refinance a portfolio of 14 skilled nursing facilities…
NEW YORK CITY—Locally-based GMF Capital, LLC has secured a $66-million senior credit facility to refinance a portfolio of 14 skilled nursing facilities in Ohio and Kentucky.
White Oak Healthcare Finance, LLC, which is headquartered in New York City, acted as sole lender and administrative agent on the funding. In addition, White Oak also provided GMF Capital with a $15-million line of credit in connection with the refinancing deal.
“GMF is a well-respected investor in the healthcare real estate sector with deep domain expertise,” says Ross Eldridge, managing director at White Oak “We were able to offer a competitive structure to help GMF execute their business plan, and we are excited to grow this strategic partnership as we continue to be an active lender in the healthcare industry.”
GMF is an investment management platform engaged in private equity and alternative investments across real estate, healthcare, and structured credit. The firm’s healthcare platform consists of more than 125 properties with $600 million of assets under management across more than 10 states, including skilled nursing, independent living, assisted living, memory care, behavioral health and dialysis facilities.
“White Oak continues to be one of our preferred lending partners that demonstrates their flexible capital with their ability to cater to customers’ unique business needs.” says Dan O’Keefe, managing director and head of healthcare at GMF. “White Oak’s Real Estate team makes the deal process seamless and always provides certainty of execution.”
In late May, White Oak Healthcare Finance announced it acted as sole lead arranger on the funding of a senior credit facility to refinance United Medical Systems, Inc., a portfolio company of New State Capital. The company is a leading provider of shared medical services primarily in the form of mobilized equipment solutions in urology.
White Oak in its announcement did not divulge the value of the credit facility.
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