GE Commercial Finance Healthcare Financial Services Arranges $120 Million in Financing for Long-Term Care Industry
Posted on: Thursday, 20 October 2005, 12:00 CDT
GE Commercial Finance Healthcare Financial Services recently closed two major transactions with leaders in the long-term care industry - a $60 million senior housing acquisition line with Chain Bridge Capital, LLC, and a $58.7 million five year, fixed-rate term loan with IPC AL REIT.
Both transactions were designed to help the companies meet their specific business objectives:
-- Using the acquisition line, Chain Bridge Capital LLC - a Maryland-based company focused on acquiring, developing and financing healthcare-related real estate assets, primarily senior housing properties - will expand its portfolio of senior housing assets across the nation to accommodate increased consumer demand for more facilities.
-- The five year, fixed-rate term loan is structured to enable IPC AL REIT - a privately-held Canadian REIT with a portfolio that includes 17 assisted living facilities and one skilled nursing facility - to extract equity from the transaction and continue to grow its senior housing portfolio.
"GE Commercial Finance Healthcare Financial Services took a critical look at our short- and long-term business goals, then structured a loan that firmly positions us to meet those goals," said Fred Zullinger, CFO, IPC AL REIT. "That's one of the main reasons we chose to work with GE again - its team looks at the big picture and the industry climate to ensure their loan product will be as relevant in the future as it is today."
About GE Commercial Finance Healthcare Financial Services
GE Commercial Finance Healthcare Financial Services is a provider of capital, financial solutions, and related services for the global healthcare market. With over $13 billion of capital committed to the healthcare industry, GE Commercial Finance Healthcare Financial Services offers a full range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physicians' practices and life sciences, GE Commercial Finance Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit www.gehealthcarefinance.com.
Source: Business Wire
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