BHI and Contemporary Healthcare Capital announced a combined $9.525 million in loans for Townview Realty for the acquisition of a Canonsburg, PA, nursing home.
The $7.95 million senior loan provided by BHI includes a $600,000 line of credit, with BHI guaranteeing an additional earn-out feature of $2.1 million once the facility achieves certain predetermined performance metrics.
CHC facilitated the $1.575 million mezzanine loan.
“This was our first transaction with both BHI and Townview and based on the smooth process, mutual cooperation and outstanding responsiveness and professionalism, we can only hope this is the first of many together in the future,” said Steve M. McGee, Director of Operations of CHC.
