NEW YORK--(BUSINESS WIRE)--White Oak Healthcare Finance, LLC (“White Oak”), today announced it acted as sole lender and administrative agent on the funding of a $28 million senior credit facility for Granite Investment Group (“Granite”). Secured by three skilled nursing facilities in Texas, the funds refinanced existing debt and provided a dividend for investors. White Oak recently announced it financed a separate portfolio of four skilled nursing facilities in Texas for Granite.
“We are happy to have had another opportunity to work with Granite. This transaction materialized as an opportunity to provide a bridge-to-HUD financing for an under-levered portfolio. As an active lender in the space, we can optimize our offerings to meet each company’s unique business needs,” said Isaac Soleimani, Managing Director and Partner at White Oak.
Granite Investment Group is a privately held, real estate investment firm focused on multi-family, senior housing, and post-acute care.
“It was great to work with the team at White Oak again. In addition to providing us with a compelling financing package, they were able to accommodate an accelerated closing timeline, completing the transaction in 45 days. Their flexibility, certainty of execution and ability to scale to larger transaction sizes are a welcome new addition to the seniors housing lending market,” said Jason Price, SVP at Granite Investment Group.
About Granite Investment Group
Granite Investment Group
currently manages a portfolio of commercial real estate assets valued in
excess of $500 million, based on purchase price, primarily comprised of
senior housing facilities. Based in Irvine, California, Granite is a
privately held investment management firm that has bought and sold
approximately $1.5 billion of commercial real estate equity and debt on
behalf of thousands of investors since 1995. To learn more about Granite
Investment Group, please visit www.graniteinvestment.com.
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.
