Pritok Capital, a private equity firm that invests in senior care real estate, has received a $12.4 million loan from Oxford Finance. Proceeds of the loan were used by Pritok to acquire two nursing facilities in Kansas and Missouri.
ALEXANDRIA, Va., Aug. 26, 2014 /PRNewswire/ — Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced that it closed a $12.4 million senior secured term loan and a $1.5 million revolving line of credit with Pritok Capital (“Pritok”). Proceeds of the term loan were used to purchase two skilled nursing facilities in Kansas and Missouri, and the revolver will provide working capital.
“Oxford has provided financing to Pritok on multiple occasions in the past few years, and we value and appreciate the ongoing relationship,” said Christopher A. Herr, managing director for Oxford Finance. “We are happy to support the acquisition of Pritok’s two new properties, which will be excellent additions to their current portfolio of seniors housing facilities.”
“This is the third acquisition we have completed with Oxford,” said Max Stesel, managing partner and founder of Pritok Capital. “We continue to be impressed with their professionalism and integrity. Oxford consistently meets, and on occasion actually exceeds our expectations, and dealing with the team is easy and a pleasure.”
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $2 billion in loans, with lines of credit ranging from $500 thousand to $75 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com.
About Pritok Capital
Pritok Capital is a private equity group that specializes in investments in senior care real estate. It purchases skilled nursing facilities and leases to reputable regional operators, as well as executes purchase-leaseback transactions to give quality operators access to capital, while enabling them to continue operating their facilities. Since being formed in 2012, Pritok Capital has acquired skilled nursing facilities in Kansas, Michigan, Minnesota, Missouri and Ohio.