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MINNESOTA and SOUTH DAKOTA — Contemporary Healthcare Capital has provided a $4.2 million mezzanine loan to affiliates of Cascade Capital Group LLC.
The transaction supports the acquisition of five skilled nursing facilities and two assisted living facilities in Minnesota and South Dakota. The Contemporary loan was a follow-on financing to the original senior acquisition loan provided by CIBC.
The 378-bed Minnesota portfolio is leased to affiliates of Monarch Healthcare Management and the 188-bed South Dakota portfolio is leased to affiliates of Eduro Healthcare.