The credit facility was worth $33.3 million with a $19 million revolving asset-based line of credit and a $14.2 million real estate term loan. “Understanding a client’s needs and priorities enables us to develop a creative financing solution that fully supports their goals,” said Aaron Donovan, senior vice president for EBSC Lending.
The sponsor, which is a post-acute care provider which operated 11 facilities in four states, used the real estate term loan in order to finance the acquisition of a skilled nursing facility. The revolving line of credit provided the sponsor with additional working capital financing.
EBSC served as the administrative agent on the senior credit facilities.
“This has been a very busy year for us, the busiest for us since our inception,” said Martin Alex, president of EBSC Lending. “I have a team that has an unwavering commitment to excellence and we are proud to support our clients and we look forward to working with them again as they continue to grow,” added Alex.