• .
    .

News Release: MidCap Financial Closes First Mortgage Loan on a Five-Property Sonata Seniors Housing Portfolio

PRESS RELEASE

BETHESDA, MD, June 29, 2021 – MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it recently closed a transaction with funds managed by affiliates of Fortress Investment Group LLC (“Fortress”). The $46,000,000 floating rate first mortgage loan facilitated the acquisition of a portfolio of five seniors housing communities totaling 444 units (9 IL, 328 AL and 107 MC). The communities, which will continue to be operated by Sonata Senior Living, are all well-located in South Florida in Delray Beach, Boynton Beach, Boca Raton, Coconut Creek and Vero Beach. MidCap’s loan is structured with an initial funding to facilitate the purchase of the communities and future funding for capital improvements. The financing was arranged by Jones Lang LaSalle on behalf of Fortress.

About MidCap Financial

MidCap Financial is a middle market-focused, specialty finance firm that provides senior debt solutions to businesses across all industries throughout North America. The firm’s years of experience, strong balance sheet, and flexibility make it a lender of choice for companies across all stages of growth and complexity. MidCap Financial’s debt solutions focus in six areas:

• Asset Based Lending – asset-based revolving loans and term loans collateralized by accounts receivable, inventory and other tangible and intangible assets;
• Leverage Lending – leverage based loans to companies backed by private equity sponsors across all industries including healthcare, technology, and business services;
• Life Sciences & Technology Lending – loans to VC-backed and public pharmaceutical, biotech, medical device, diagnostics, healthcare IT, enterprise software and hardware companies;
• Real Estate Lending – loans to developers and operators of commercial, residential and healthcare real estate;
• Lender Finance – term loans and revolving credit facilities to consumer and commercial finance lenders;
• Franchise Finance – loans to franchisees operating in the quick service restaurant (QSR) and other industries.

MidCap Financial is a middle market-focused, specialty finance firm that provides senior debt solutions to businesses across all industries. The firm’s years of experience, strong balance sheet, and flexibility make it a lender of choice for companies across all stages of growth and complexity. MidCap Financial refers to MidCap FinCo Designated Activity Company, a designated activity company limited by shares incorporated under the laws of Ireland, and its applicable subsidiaries. Loans made or arranged by MidCap Financial Trust pursuant to a California Finance Lenders Law License.

For more information about MidCap Financial, please visit http://www.midcapfinancial.com.

Contact: MidCap Financial Services, LLC
Kevin McMeen, President – Real Estate
312-234-0296
kmcmeen@midcapfinancial.com

The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE

Existing Users Log In