Capital One provides $34M in credit to senior company

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Capital One Commercial Bank announced it was providing a $34 million credit facility to Rollins-Nelson, which has skilled nursing and assisted living facilities in California.

The package is $30 million in a secured loan and a $4 million line of credit.

Proceeds from the term loan were used to refinance Glendora Grand, a 342-bed skilled nursing facility located in Glendora, CA, and Palmcrest, which consists of Pacific Villa, with 99 skilled nursing beds, and Palmcrest House, with 262 residential care facilities for the elderly beds.