Bethesda, MD-based MidCap Financial has just inked a sizable loan with the nation’s largest skilled nursing operator.
The commercial financing company announced it has closed a transaction with Genesis Healthcare, providing a $75 million floating rate first mortgage loan. The debt, according to an announcement from MidCap, is secured by 18 facilities, which are spread across eight states.
This deal is part of a larger package that also includes a $555 million asset-based loan. The funding infusion will give Genesis “additional liquidity, financial flexibility and the extension of certain maturities,” according to the MidCap announcement.
