MidCap Financial closes deal with StoneGate Senior Living

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MidCap Financial recently closed a $64.8 million transaction with StoneGate Senior Living in Texas.

The first mortgage loan is secured by six healthcare facilities that are owned and operated by StoneGate, and in the Dallas/Fort Worth and Tulsa metro areas. They have 720 skilled nursing beds and 52 assisted living units. The money will be used by StoneGate to refinance existing debt, recapitalize one of the facilities, and fund corporate working capital.

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