Fundamental Advisors acquires $112 mezzanine loan

Fundamantal Advisors LP, an alternative asset manager focused on public purpose assets, has acquired a mezzanine loan secured by interests in Tandem Health Care, a skilled nursing and long-term portfolio, for $112 million. The seller was HCP Inc. Sidley Austin LLP provided legal counsel to Fundamental on the transaction. The Tandem portfolio consists of 41 senior care facilities in Florida, Pennsylvania and Virginia.

PRESS RELEASE

NEW YORK, March 15, 2018 — Fundamental Advisors LP (“Fundamental”), a leading alternative asset manager focused on public purpose assets, today announced the acquisition of a mezzanine loan secured by interests in Tandem Health Care, a skilled nursing and long-term healthcare portfolio, from HCP, Inc. (NYSE: HCP) for $112 million. The Tandem portfolio consists of 41 senior care facilities located throughout Florida, Pennsylvania and Virginia.

An active investor in critical community assets, Fundamental will leverage the firm’s extensive experience investing in senior care properties and expand its partnership with Senior Care Development, LLC.

“As Fundamental’s presence expands in the skilled nursing sector, we are pleased to invest in Tandem Health Care and support the crucial role these facilities serve in their communities,” said Laurence Gottlieb, Chairman and CEO of Fundamental Advisors.

Sidley Austin LLP served as legal counsel to Fundamental in the transaction.

About Fundamental Advisors
Fundamental Advisors is a leading alternative asset manager dedicated to the municipal markets. Founded in 2007, the firm is focused on targeting control oriented investments in stressed and distressed assets or securities, financing the development or revitalization of public purpose assets, or acquiring undervalued securities in the secondary market. Fundamental invests through a range of vehicles that capitalize on the growing opportunity set in the municipal market. For more information, please visit www.fundamentaladvisorslp.com.