Oxford Finance LLC has provided a term loan to Maryland-based Sterling Senior Care, a skilled nurse operating. No financial terms were disclosed. The capital was used to acquire a 129-bed skilled nursing facility in Belcamp, Maryland.
ALEXANDRIA, Va. and SILVER SPRING, Md., May 2, 2019 /PRNewswire/ — Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, today announced the closing of a term loan and revolving line of credit to Sterling Senior Care (“Sterling” or “the Company”), a Maryland based skilled nursing operator. The funds were used for the acquisition of a 129 bed skilled nursing facility in Belcamp, Maryland.
Sterling Senior Care was founded in 2017 by Jeff Kagan and Nathan Jakobovits. The Company currently operates skilled nursing and assisted living facilities in the Mid-Atlantic region.
“Top to bottom, the Sterling team is excellent,” said Tracy S. Maziek, head of healthcare services at Oxford Finance. “We are thrilled to once again help the Company build on its high-quality portfolio.”
“We had been targeting the acquisition of this facility for some time. When it became available, it was important for us to execute seamlessly,” said Jeff Kagan, president at Sterling. “Consequently, it was important for us to choose a capital partner that knows the space and delivers on its promises. Oxford was the right partner. We appreciate the growing relationship.”
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 $5 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas. For more information, visit (http://oxfordfinance.com/).