BHI, a full-service commercial bank, announced Sept. 30 that its Healthcare Group provided $31.1 million to Lionstone Care for the acquisition of an assisted living and memory care facility in southern New Jersey.
The facility has 110 units and is licensed for 130 beds. Amenities at the facility include five living rooms, a library, game room, tearoom, three dining rooms, a beauty salon, and a variety of activities for residents.
“This is a superb facility that has a stellar reputation for providing high quality care and maintaining efficient operations. Almost completely occupied, it has historically yielded impressive results. We are very pleased to collaborate with the owners of Lionstone Care, which has a strong track record as an operator that includes success in turnaround situations,” said Tami Antebi, head of BHI Healthcare.
“BHI remains highly committed to providing creative solutions to the health care sector and values the opportunity to work with the owners of Lionstone Care and support their future growth. We understand the nuances of the business, the industry demands, and most of all, we are passionate about our borrower’s success and care for the communities they service. That ethos guides our platform and is core to BHI Healthcare,” said Steven Caligor, executive vice president and division executive of Structured Finance – CRE and Healthcare.