New York-based IDB Bank has arranged a $201.5 million bridge-to-HUD loan for an unnamed operator of 21 skilled nursing facilities with locations in Georgia, Michigan, North Carolina and Texas.
As administrative agent, IDB will hold $100 million of the debt.
“Serving as administrative agent on the successful syndication of this transaction further demonstrates the bank’s capabilities as we continue to grow our healthcare platform,” IDB Bank National Head of Healthcare & Not-For-Profit Lending Michael Palermo said in a statement.
The bank has been active in the healthcare space throughout the year. In May, for instance, it facilitated an $18.5 million term loan for the acquisition of a Florida skilled nursing facility.
That action was preceded by one in February via which IDB served as senior lender in a $10.4 million construction financing deal for a California medical office building as the bank’s entry into healthcare construction lending. And in January, IDB provided $48 million to refinance the debt of a Maryland-based behavioral health provider.
IDB Bank is a wholly owned subsidiary of Israel Discount Bank LTD. Headquartered in Manhattan, IDB Bank operates full-service offices in California, Florida and the New York/New Jersey area, providing a range of private banking and commercial banking services to US and international clients.
