Thrivemore (September 2023)

HJ Sims began discussions with Thrivemore’s existing lender, First Citizens, early in the documentation process to provide funding for the acquisition. Coincidentally, they were also the existing lender for Ardenwoods, which allowed the bank to quickly get up to speed. HJ Sims worked with First Citizens to set up several financing structures that accounted for the potential of the sale occurring after the acquisition. Ultimately, Thrivemore and First Citizens agreed to a one-year taxable bridge loan that would fund the acquisition and provide working capital. The loan is anticipated to be repaid with permanent debt as part of an expansion financing for Thrivemore’s Taylor Glen campus.

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PA-LTC

PA-LTC owns two skilled nursing facilities in Pennsylvania: Linwood Nursing and Rehabilitation Center, a 102 licensed bed nursing facility located in Scranton, and Edgehill Nursing and Rehabilitation Center, a 60-bed nursing facility located in Glenside.

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