ALEXANDRIA, VA, March 8, 2016 – Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of a $27 million term loan to Cascade Capital Group, LLC (“Cascade Capital”). These funds were used to purchase three skilled nursing facilities (SNF) in Colorado and Utah.
Cascade Capital is a newly formed private equity firm that invests in long-term care facilities. Its facilities are managed by Legacy Healthcare, which is headquartered in Skokie, Illinois. Legacy Healthcare operates 21 facilities in the Chicago area, plus the three SNFs recently purchased by Cascade Capital.
“We are pleased to work with Cascade Capital and provide financing for the acquisition of three state-of-the-art facilities,” said Tracy S. Maziek, managing director at Oxford Finance. “The principals of Cascade Capital are successful veterans in the long term care market, and its management company, Legacy Healthcare, continues to take great pride in providing a high standard of service for its residents.”
“We feel these newly acquired facilities are great opportunities for us in the western United States,” commented Chaim Rajchenbach, principle, Cascade Capital Group. “This is the first time we have worked with the Oxford team, and we were impressed by the firm’s professionalism, timeliness and execution capabilities.”
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $3 billion in loans, with lines of credit ranging from $500 thousand to $75 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California and Massachusetts. For more information visit www.oxfordfinance.com.
About Cascade Capital Group, LLC
Cascade Capital is a private healthcare real estate investment and management firm, focused on skilled nursing, post-acute rehabilitation and transitional care facilities, as well as assisted living communities. Launched in January 2016 by the owners/operators and leadership team that built Legacy Healthcare, Cascade Capital is expanding its holdings in new markets and growing its portfolio of operators and lessees. For more information visit www.cascadellc.com.