This loan will enable LCCA to finance the acquisition of two skilled nursing facilities. Additionally, LCCA will use the loan to refinance an existing construction loan on a third facility.
"Over the years we've worked with LCCA to deliver both large and small structured financing arrangements tailored to solve their business challenges,"Â said Jason McMeen, senior vice president for GE Healthcare Financial Services. "In this particular deal we were able to move quickly to find a mutually beneficial deal structure, which included 100 percent acquisition financing by leveraging existing equity in previously financed portfolios."Â
"GE has been a long-term partner that's focused on helping solve our finance needs,"Â said David Weiss, transaction advisor and member of the LCCA Board of Directors. "They were able to leverage existing equity in a previously held portfolio and move quickly on the deal -- closing within the tight timeframe that was required. This was critical to the success of the financing"Â - General Electric.
Posted March 3rd, 2007 by Nymphadora
