Healthcare Banking

Our healthcare banking team builds partnerships with business owners and executives by taking the time to understand you, your company and your needs. We combine our strong industry expertise with tailored solutions and service to help you succeed. We’re dedicated to building an enduring business partnership. Our focus areas include skilled nursing, assisted living, memory care, independent living, pharmacy and hospice.

Financing

Our team helps with complex transactions by offering many financing options¹.

First mortgage loans

Bridge loans

Working-capital lines of credit

Standby letters of credit

CapEx and expansion

Treasury Management

Our dedicated account specialists know you and your industry and can offer new ideas to help you operate more profitably and efficiently, including solutions to manage cash flow and liquidity. We also have cash management products exclusively suited for the senior care sector.

Recent Transactions

Here are just a few of the companies that we’ve helped lately:

Company A

Three home, 280-bed skilled nursing and assisted living portfolio in Illinois.

Type

Acquisition financing

Amount

$10,000,000

Solution

In addition to a 5-year loan on real estate, a revolving line of credit was provided to support working capital.

Company B

120-bed skilled nursing facility in Kentucky.

Type

Cash-out refinance

Amount

$13,500,000

Solution

The home, which has an effective age of 20 years, has been run by a local operator for a number of years. Historical occupancy has been in the 75% range. In addition to the 5-year loan on the real estate, a $1 million revolving line of credit was provided to support working capital.

Company C

425-bed skilled nursing facility portfolio in North Carolina.

Type

Cash-out refinancing

Amount

$40,000,000

Solution

In addition to a 5-year loan on the real estate, a capital expenditures facility was provided for facility upgrades along with a revolving line of credit to support working capital.

Company D

Portfolio of 750 skilled nursing beds and 110 assisted living units in Indiana.

Type

Acquisition financing

Amount

$51,200,000

Solution

The portfolio of 11 buildings, which have an effective age of 20 years, were acquired by a regional operator from a local operator. Historical occupancy has been in the 85% range with revenues exceeding $55 million. In addition to the 5-year loan on the real estate, a $5 million revolving line of credit was provided to support working capital.

Company E

72-bed skilled nursing facility in Indiana providing medical, memory care, and rehabilitative therapy services.

Type

Cash-out term loan

Amount

$3,000,000

Solution

CIBC’s loan solution allowed the client to purchase a property in cash and improve overall liquidity.

Company F

54-bed skilled nursing facility in New Jersey.

Type

Acquisition financing

Amount

$6,300,000

Solution

The building, which has an effective age of 10 years, was acquired by a local operator who had been leasing the facility. Historical occupancy on the facility has been in the 90% range with EBITDAR margins approximating 15%. In addition to the 5-year loan on the real estate, a revolving line of credit was provided to support working capital.

For more information, contact:

Jeffrey D. Steele
President, Specialized Industries
312-564-1227 Opens your phone app.

Resources

Healthcare information sheet (PDF, 70 KB) Opens in a new window.

Capitalizing on deal-making conditions in skilled nursing