Oxford Finance LLC announced the closing of a $96 million term loan to an affiliate of Summit Healthcare REIT Inc.
The loan was used to purchase 14 skilled nursing/assisted living facilities in Indiana, encompassing more than 1,100 beds. Summit bought the facilities through a newly formed joint venture among a real estate holding company, a global institutional asset management firm and a wholly-owned subsidiary of Summit, the REIT said.
“Oxford is pleased to work with the Summit team to once again grow their portfolio,” said Tracy S. Maziek, head of healthcare services at Oxford Finance. “The transaction required an aggressive timeline and the flexibility to adapt to a highly dynamic process. I’m pleased we delivered on time, terms and as promised.”
