BETHESDA, MD, January 4, 2023 – MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it recently closed a transaction with a joint venture between NexCore Group (“NexCore”) and an affiliate of Heitman LLC (“Heitman”). The floating rate first mortgage loan facilitated the recapitalization of six modern, high end seniors housing communities totaling 821 independent living, assisted living and memory care units across the southeast. The communities are well located in high growth markets in Florida with strong demographics and forecasted growth in the 65+ population. Experience Senior Living, NexCore’s seniors housing development and management division, will operate all of the communities. MidCap Financial’s loan, which it holds on its balance sheet, is structured to facilitate the recapitalization of the communities and provide future funding to complete construction of one of the communities.
About MidCap Financial
MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of September 30, 2022, MidCap Financial provides administrative or other services for over $43.6 billion of commitments*. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $523 billion as of September 30, 2022, in credit, private equity and real assets funds.
*Including commitments managed by MidCap Financial Services Capital Management LLC, a registered investment For more information about MidCap Financial, please visit http://www.midcapfinancial.com.
For more information about Apollo, please visit http://www.apollo.com.
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