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Southern IL SNF Loan
MIG secured 80% LTC acquisition debt for a 112-bed IL nursing home despite no seller financial statements.
Overview
MIG’s debt team was engaged to arrange financing for a highly challenging acquisition involving an 112-bed nursing home in Illinois. The transaction presented an unusual hurdle, as the seller was unable to provide formal financial statements. Many prospective buyers had passed on the opportunity, assuming that obtaining acquisition debt under those conditions would be impossible.
Results
In short order, the debt team engaged a resourceful banking partner that provided 80% LTC financing despite the significant challenge posed by the absence of seller financials.
Conclusion
This case study perfectly illustrates MIG’s deep lending relationships and creative approach to complex transactions. MIG guided the lender through the buyer’s detailed projections and leveraged its proven success in nearby markets to establish confidence and secure approval at this high leverage level.
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