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Experience

Lenders provide $25 million term and AR loans for 3 SNFs in Wisconsin

A bank provided $25 million of loans to finance the acquisition and operations of 3 skilled nursing facilities in Wisconsin, including a $20 million term loan secured by a first lien mortgage in the properties and a $5 million asset-based revolving line of credit to the operators of the facilities, secured by a first lien in governmental and non-governmental receivables and other operational assets.

Waller represented the bank in the transaction. The matter involved review of various healthcare regulatory matters related to a change of ownership for the facilities, as well as negotiation of documents with the prior operators of the facilities and a reconciliation agreement with the prior AR Lender.

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