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White Oak Healthcare Finance Provides $81 Million Credit Facility to GMF Capital
August 6, 2019
By White Oak Healthcare Finance, LLC
White Oak Healthcare Finance, LLC (“White Oak”) announced it acted as sole lender and administrative agent on the funding of a $66.0 million senior credit facility for GMF Capital, LLC (“GMF”). The funds were used to refinance a portfolio of 14 skilled nursing facilities concentrated in Ohio and Kentucky. As part of the transaction, White Oak also provided a $15.0 million line of credit to the operating company.
"GMF is a well-respected investor in the healthcare real estate sector with deep domain expertise,” said Ross Eldridge, Managing Director at White Oak. “We were able to offer a competitive structure to help GMF execute their business plan, and we are excited to grow this strategic partnership as we continue to be an active lender in the healthcare industry.”
GMF is an investment management platform engaged in private equity and alternative investments across real estate, healthcare, and structured credit. GMF’s investment strategy is to create programmatic partnerships with sophisticated operators of real estate properties who are focused on specific asset classes, geographies, and investment strategies. The healthcare platform consists of 125+ properties with $600 million of assets under management across 10+ states, including skilled nursing, independent living, assisted living, memory care, behavioral health, and dialysis facilities.
“White Oak continues to be one of our preferred lending partners that demonstrates their flexible capital with their ability to cater to customers’ unique business needs.” said Dan O’Keefe, Managing Director and Head of Healthcare at GMF. “White Oak’s Real Estate team makes the deal process seamless and always provides certainty of execution.”
About White Oak Healthcare Finance
White Oak Healthcare Finance, LLC (“WOHCF”), an affiliate of White Oak Global Advisors, LLC is a lender to all subsectors within the healthcare industry including healthcare services, pharma and life sciences, medical devices, healthcare technology, healthcare real estate, hospitals and SNFs. WOHCF has deep domain expertise with a sole focus on healthcare which enables it to provide flexible and creative solutions with certainty of execution. WOHCF offers a differentiated product set including cash flow term loans, asset based loans and ABL Stretch facilities, unitranche facilities, last out financings, real estate financings, equipment financings and opportunistic investments. As a lender with large pools of capital to deploy, WOHCF generally holds its full loan positions to maturity.
About White Oak Global Advisors
White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors’ disciplined investment process focuses on delivering risk-adjusted investment returns and establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.