White Oak Healthcare Finance Provides $190 Million Financing for BM Eagle’s 17 SNF Portfolio
SAN FRANCISCO--(BUSINESS WIRE)--Nov 14, 2018--White Oak Healthcare Finance, LLC (“White Oak”), today announced it acted as administrative agent and lead lender on the funding of a $190 million senior credit facility of 17 skilled nursing facilities for BM Eagle Holdings, LLC (“BM Eagle”), a joint venture led by affiliates of BlueMountain Capital Management, LLC (“BlueMountain”). The facilities are located in Northern California and New England.
“BlueMountain has been very active in the healthcare industry seeking out opportunistic investments over the past several years and is a leading investor in the post-acute care industry,” said Ross Eldridge, Managing Director at White Oak. “We continue to become increasingly relevant in the healthcare real estate space and it was a pleasure to work with their talented investment professionals on this transaction.”
BlueMountain has $22 billion in assets under management, including equity and debt in commercial real estate, as well as investments in operating businesses with real estate exposure. The BM Eagle joint venture was formed by BlueMountain to acquire under managed health care real estate assets and execute value enhancing strategies through investments in both management and physical plant upgrades.
“White Oak provided us with an extremely compelling financing package that met our needs as an owner of post-acute care facilities. Their non-bank approach to lending provided flexibility, speed and certainty of execution,” said BM Eagle Managing Partner Elliott Mandelbaum.
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.
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CONTACT: Jonathan Setiabrata
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE
SOURCE: White Oak Healthcare Finance, LLC
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PUB: 11/14/2018 09:00 AM/DISC: 11/14/2018 09:00 AM