SAN MARCOS, Calif. — Lancaster Pollard has arranged $400 million in financing for Plum Healthcare Group, a San Marcos-based skilled nursing operator.
The bridge-to-HUD loan refinances Plum’s previous corporate term loan credit facility on a portfolio of 27 skilled nursing facilities throughout California.
“Redesigning our capital structure for the emerging market is a key tenet of our strategic plan, which is focused on further enhancing our industry-leading clinical and patient outcomes, and aligning our business to capitalize on developing long-term growth opportunities in the healthcare space,” says Naveed Hakim, chief financial officer of Plum Healthcare Group.
The Lancaster Pollard team of Grant Goodman, Jason Dopoulos, Joe Munhall and Elliot Kaple served as the syndication agent on the transaction. Credit Suisse served as the lender.
“Completing this refinancing with Lancaster Pollard and Credit Suisse accomplishes a key step towards creating a unique, sustainable capital structure that will give us the flexibility and enhanced capital output to execute on our vision,” adds Hakim.