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Illinois SNF Working Capital Financing
MIG closed three working capital LOCs for the acquisition of three Illinois SNFs totaling 450+ beds.
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Overview
MIG was engaged by a client seeking working capital financing to support the acquisition of their first three skilled nursing facilities, totaling more than 450 beds. The sponsor brings deep industry experience, having spent several years operating within skilled nursing environments and building a strong track record that enabled the transition from employee to principal. The transaction also involved navigating two existing HUD loans as part of the acquisition structure.
Results
This process, led by MIG, resulted in multiple term sheets from regional lenders. By the end of the process MIG was able to competitively negotiate and close three separate lines of credit for the client.
Conclusion
This transaction highlights MIG’s strong relationships with specialized healthcare lenders who understand the nuances of skilled nursing and are comfortable lending against government receivables.
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