Oxford Finance Provides $20 Million Debt Financing Facility To American Senior Living Communities
ALEXANDRIA, Va., Jan. 4, 2013 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life science and healthcare services companies, today announced that it closed a $16 million senior secured term loan and $4 million revolving line of credit with American Senior Living Communities ("ASLC"). Proceeds of the term loan were used to refinance two skilled nursing facilities in Rhode Island, and the revolver will be used to fund ongoing working capital needs at these sites.
"ASLC is extremely well-managed and highly respected in the seniors housing industry," said Christopher A. Herr, managing director for Oxford Finance. "Oxford provided capital to ASLC in the past to support its Rhode Island skilled nursing facility, and we are very pleased to have the opportunity to expand our relationship."
"ASLC has been extremely pleased with its relationship with Oxford, beginning with the original revolving line of credit implemented shortly after our acquisition of Trinity Health and Rehabilitation Center," said
Jeffrey A. Barnhill, executive vice president and chief financial officer for ASLC. "We are additionally pleased to have the opportunity to strengthen our relationship with Oxford via the refinancing of our first mortgage debt for the two
Rhode Island properties, and the expansion of our revolving line of credit. ASLC very much appreciates the professional and expeditious manner in which Oxford supports our relationship."
About Oxford Finance LLCOxford Finance is a specialty finance firm providing senior secured loans to public and private life science and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $1.5 billion in loans, with lines of credit ranging from $500 thousand to $40 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV