A lender provided a $37 million term loan to finance the acquisition of three skilled nursing facilities in Florida, secured by a first lien mortgage in the properties as well as a second-lien pledge by the facility operators of all of their assets. The lender also provided a $13 million asset-based revolving line of credit to the operators of the facilities, secured by a first lien in accounts receivables and other operational assets.
Waller represented the lender in the transaction. The matter involved real estate diligence and review of various healthcare regulatory matters.
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