Forbright Bank Healthcare Team Closes Three Deals to Kick Off 2024
16 April 2024 - 11:00AM
Business Wire
Financing will help expand and improve access
to healthcare
Forbright Bank’s Healthcare Lending team closed three new loans
in the first quarter of 2024. The loans, all provided to well
established owners/operators, helped finance the acquisition of two
assisted-living facilities in the Midwest and two skilled-nursing
facilities in the Southeast. In total, more than $50 million of
bridge and bridge-to-HUD lending financed about 500 beds for
seniors across four facilities.
"Forbright’s Healthcare team has worked tirelessly this year to
support our clients and deliver customized, thoughtful, and prompt
financing solutions,” said Amy Heller, President and Chief Lending
Officer for Healthcare and HUD Lending at Forbright Bank. “Our
healthcare clients are working in an industry that’s vital to the
health and well-being of our seniors, and we’re proud to ensure
access to capital in this period.”
The financing announced today is for facilities that range from
being built within the last few years to more than 15 years old
with renovations planned to provide enhanced experiences for
residents and staff.
Forbright Bank’s Healthcare team has decades of experience
supporting companies large and small. The Bank provides loans for
acquisition, recapitalization, working capital, HUD, and other
lending products and services to healthcare entities across the
nation.
Forbright’s financing under the U.S. Department of Housing and
Urban Development helps organizations access non-recourse,
assumable financing for the purchase, refinance, substantial
rehabilitation, or new construction of licensed skilled nursing,
assisted living, and memory care facilities.
About Forbright Bank:
Forbright Bank (www.forbrightbank.com), Member FDIC, Equal
Housing Lender, is a full-service bank taking action to decarbonize
the economy. Headquartered in Chevy Chase, Maryland, Forbright is
committed to accelerating the transition to a sustainable, clean
energy economy by financing the companies, investors, and
innovators driving that change.
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Ben Wakana bwakana@forbrightbank.com