Thorofare Capital has arranged a $9 million short-term loan for a Los Angeles-based healthcare operator to refinance two of its LA-based skilled nursing facilities. The financing was used to fund nearly $300,000 in planned capital improvements for both properties and to retire existing senior secured term loans.
The transaction involves an 81-bed facility on North Fairfax Avenue and a 99-bed facility located on Pico Boulevard near Koreatown.
Currently, the LA-based healthcare operator owns, manages and operates 20 healthcare centers throughout California. The facilities offer skilled nursing, long-term skilled nursing, assisted living and other healthcare services to about 1,700 individuals.