Oxford Finance LLC Provides $1.5 Million Revolving Line of Credit to American Senior Living Communities
ALEXANDRIA, Va., June 16 2011 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life science and healthcare services companies, today announced that it closed a $1.5 million credit facility with American Senior Living Communities ("ASLC"). This line of credit will be used to fund the ongoing operations and provide working capital for a recently acquired skilled nursing facility in Rhode Island.
"Oxford is pleased to support ASLC as it expands its portfolio of senior housing properties," said Christopher A. Herr, managing director for Oxford Finance LLC. "The company is led by an impressive management team that has a great deal of experience in the senior's housing industry."
"ASLC is pleased to partner with Oxford to expand its portfolio in the senior housing market," said Jeffrey A. Barnhill, executive vice president and chief financial officer for ASLC. "Oxford has brought on board an experienced and knowledgeable management team that understands the senior housing industry and the cash flow nuances of senior care."
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life science 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 $1.5 billion in loans, with lines of credit ranging from $500 thousand to $40 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com.
About American Senior Living Communities
American Senior Living Communities ("ASLC") is a regional operator of senior housing communities committed to providing high quality and cost effective health care to their residents. ASLC has a portfolio of five properties totaling 698 licensed beds. The portfolio, which is concentrated in the Northeast, includes 4 skilled nursing communities and one assisted living community. ASLC is headquartered in East Greenwich, RI, with additional offices in Florida and Frederick, MD. For more information visit www.aslci.com.
SOURCE Oxford Finance LLC
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