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CIT Arranges $58.9 Million Financing for Micro-Hospital Portfolio

CIT, a division of First Citizens Bank, today announced that its Healthcare Finance business served as lead arranger of $58.9 million in financing for the acquisition of a portfolio of six micro-hospitals.

The buyer is a joint venture directed by an affiliate of Rethink Healthcare Real Estate, formerly Seavest Healthcare Properties. Each property within the portfolio is branded Baylor Scott & White Emergency Hospital.

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Featured

Danielle DiMartino Booth
Interview with SFNet Convention Speaker Danielle DiMartino Booth, CEO & Chief Strategist, Quill Intelligence LLC

A global thought leader on monetary policy, economics and finance, Danielle DiMartino Booth founded Quill Intelligence LLC and is their CEO & Chief Strategist. This is a research and analytics firm which publishes The Daily Feather and the Weekly Quill.

To build Quill Intelligence, she brought together a core team of investing veterans to analyze trends and provide critical analysis on what is driving the markets – both in the United States and globally.

DiMartino Booth set out to launch a #ResearchRevolution, redefining how markets intelligence is conceived and delivered with the goal of not only guiding portfolio managers, but promoting financial literacy.

Since its inception, commentary and data from The Daily Feather have appeared in financial media such as Bloomberg, CNBC, Fox Business, Institutional Investor, Yahoo Finance, The Wall Street Journal, MarketWatch, Seeking Alpha, TD Ameritrade, TheStreet.com, and more.

She will be speaking during SFNet’s Live Online Annual Convention, November 17-19, 2020.

TSL Express Daily Headlines & News

  • GoldenTree Asset Management to Open Office in the Middle East
    February 27, 2023
    GoldenTree Asset Management (“GoldenTree”), a global asset management firm with over $49 billion in assets under management, today announced the opening of its first office in the Middle East in the Dubai International Financial Centre, United Arab Emirates. The Dubai office will become GoldenTree’s ninth location, with offices already active in New York, West Palm Beach, Charlotte, London, Dublin, Singapore, Sydney and Tokyo.
  • FTI Consulting 2023 Global CFO Survey: CFOs Expect Slower Growth into 2024 Due to Inflation, Rising Costs
    February 27, 2023
    Chief Financial Officers view inflation and cost of capital as the top two risks facing their businesses as they prepare for slower growth over the next 18 months, according to findings from a new survey conducted by the Office of the CFO Solutions practice at FTI Consulting, Inc. (NYSE: FCN), in collaboration with the finance publication CFO Dive. The survey also marks the first time FTI Consulting has obtained responses from CFOs and finance leaders around the world.
  • Citizens Advises Apogee IT Services on the Sale of its U.S. Operations to Magna5, a Portfolio Company of NewSpring Holdings
    February 27, 2023
    Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Apogee IT Services, backed by Brook Venture Partners, on the sale of its U.S. assets to Magna5. Magna5 is a national provider of managed IT, cybersecurity and cloud-based services and a NewSpring Holdings portfolio company.
  • TD Receives Regulatory Approval to Acquire Cowen Inc.
    February 27, 2023
    TD Bank Group ("TD") (TSX: TD) (NYSE: TD) and Cowen Inc. ("Cowen") (NASDAQ: COWN) today announced they have received all regulatory approvals required under their merger agreement to complete TD's acquisition of Cowen. With this step completed, TD expects the acquisition to close on March 1, 2023, subject to the satisfaction of other customary closing conditions.
  • LSQ Creates $1.5MM Accounts Receivable Finance Facility for Pet-Food Wholesaler
    February 27, 2023
    LSQ, a leading provider of working capital and payments management solutions, recently originated a $1.5 million credit facility for a Connecticut-based pet-food wholesaler. The company will use the additional working capital to support growth and manage sales and inventory seasonality.
  • 36th Street Capital Appoints Latouche Chief Risk Officer
    February 27, 2023
    36th Street Capital Partners LLC (“36th Street”), an independent provider of equipment financing solutions for middle market companies, announced the appointment of Cecile Latouche as Chief Risk Officer. Latouche joined 36th Street in 2022 and succeeds Gerard Kammerer who remains with the firm as a senior advisor.
  • Propel Announces New $250 Million Syndicated Credit Facility
    February 27, 2023
    Propel Holdings Inc. (“Propel”) (TSX: PRL), an innovative fintech company dedicated to credit inclusion, announced a new $250 million syndicated credit facility for the company’s CreditFresh line of business (“the credit facility”). The new credit facility replaces and upsizes the previous CreditFresh facility by $90 million.
  • H.I.G. Capital Expands Its Capital Formation Team with the Addition of Colin Hannaway
    February 27, 2023
    H.I.G. Capital, LLC ("H.I.G."), a leading global alternative investment firm with $55 billion of capital under management, is pleased to announce that Colin Hannaway has joined the firm’s Capital Formation Group as a Managing Director, based in New York City.
  • Stonebriar Commercial Finance Announces Closing of $22 Million Sale and Leaseback
    February 27, 2023
    Stonebriar Commercial Finance (“Stonebriar”) today announced the closing of a $22 million sale and leaseback on a new manufacturing plant and associated equipment that has the capacity to produce 100-million pounds of protective coating for automotive OEM and aftermarket space. This transaction provided the Lessee the ability to consolidate its supply chain, driving significant savings every year, while also building out the production capacity that establishes them as the market leader.
  • SSG Advises on the Recapitalization for Amoroso’s
    February 27, 2023
    SSG Advisors, LLC (“SSG”) acted as the investment banker to Amoroso’s Baking Company and Quattro Foods Group, LLC (collectively “Amoroso’s” or the “Company”) in the Company’s recapitalization. The funding was used to refinance existing indebtedness and provide additional liquidity for growth. The transaction closed in January 2023.
  • Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 Billion in Investable Capital
    February 27, 2023
    Crescent Capital Group LP (“Crescent”), a leading alternative credit investment firm, announced today the successful final close of its eighth private credit solutions fund, Crescent Credit Solutions VIII (“CCS Fund VIII”), raising $8 billion in investable capital, including targeted leverage and separately managed accounts investing alongside the fund.
  • nFusion Capital Wins Restructuring Deal of the Year Award
    February 27, 2023
    nFusion Capital was selected as a winner of the M&A Advisor’s Restructuring Deal of the Year ($50 million to $100 million) for our role in the restructuring of an oil and gas equipment manufacturer. The award will be presented during the 2023 Distressed Investing Summit and 17th Annual Turnaround Awards Gala in Palm Beach, Florida in March.
  • LINKBANCORP, Inc. and Partners Bancorp to Combine in Transformational Merger of Equals
    February 27, 2023
    LINKBANCORP, Inc. ("LINK") (NASDAQ: LNKB), parent company of LINKBANK, and Partners Bancorp ("Partners") (NASDAQ: PTRS), a financial services company with two wholly-owned operating subsidiaries, The Bank of Delmarva and Virginia Partners Bank, announced today that they have entered into a definitive agreement under which the companies will combine in an all-stock combination, valued at approximately $167.8 million, based on LINK's 10 day volume-weighted average price of $8.08 as of February 21, 2023.
  • Sotera Health Closes on $500 Million Term Loan B Financing
    February 27, 2023
    Sotera Health Company (“Sotera Health” or the “Company”) (Nasdaq: SHC), a leading global provider of mission-critical end-to-end sterilization solutions and lab testing and advisory services for the healthcare industry, today announced that it has successfully closed on a new senior secured Term Loan B facility in an aggregate principal amount of $500 million.
  • Spouting Rock Asset Management Acquires Ownership Stake In Altan Asset Management
    February 27, 2023
    Spouting Rock Asset Management, LLC, (Spouting Rock), a multi-boutique manager platform providing investment solutions and services, today announced an ownership stake in Altan Asset Management LLC (Altan), an investment management firm that aims to drive outsized returns by diligently seeking overlooked opportunities in the global equity markets.
  • Gridium Strengthens Balance Sheet with $14M in Funding to Accelerate Growth
    February 27, 2023
    Gridium, Inc., a decarbonization partner to leading real estate firms, announced total funding of over $14M from investors who see the potential to decarbonize commercial buildings. Gridium also entered into a revolving debt financing facility sized at $10M with Mitsubishi HC Capital America, Inc
  • Austin Financial Services Closes a $2.5M Credit Facility to a Manufacturer and Distributor of Health & Beauty Aids
    February 27, 2023
    Austin Financial Services, Inc. (AFS) is pleased to announce closing of a $2.5MM AR & inventory facility to a manufacturer and distributor of health & beauty aids. Proceeds from AFS’ revolver were used to refinance the Company’s existing bank facility and provide ongoing working capital support.
  • First Citizens Bank Introduces New Name for Equipment Finance Business
    February 27, 2023
    First-Citizens Bank & Trust Company (First Citizens Bank) today announced that its vendor equipment financing business will now be known as First Citizens Bank Equipment Finance to better communicate its core mission to vendors, customers and prospects.
  • Unlock Technologies and Saluda Grade Secure $300 Million Credit Facility from Barclays in Landmark Deal for the Home Equity Investment Industry
    February 23, 2023
    Unlock Technologies Inc. (Unlock), a leading home equity investment technology company, and Saluda Grade, a private alternative real estate investment firm, today announced that they have secured a $300 million revolving credit facility from Barclays Bank PLC (Barclays). The revolving credit facility will provide Unlock with access to significant capital to serve its growing customer base.
  • ISG Announces Amended, $140 Million Credit Agreement
    February 23, 2023
    Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, today announced it has successfully amended its $140 million credit facility at more favorable terms, to improve the firm’s financial flexibility. BofA Securities Inc. was the Sole Lead Arranger and Sole Bookrunner on the transaction.

 

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