ALEXANDRIA, Va. and SUNRISE, Fla., Nov. 5, 2020 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $9.5 million senior credit facility and revolving line of credit to AB Asset Management LLC ("AB") and Vitalogy Property Holdings LLC ("Vitalogy" or "the Company"). The proceeds will be used to finance the acquisition of two skilled nursing facilities located in Wisconsin, totaling 158 SNF beds. Vitalogy formed a partnership with AB Asset Management and Symmetry Healthcare to acquire the properties.
Vitalogy was founded in 2015 by Levi Rudd and Louis Kass. The Company plans to expand its existing multi-state operating platform to the Midwest.
"Oxford is happy to support Vitalogy's growing platform and experienced management team," said Tracy S. Maziek, head of healthcare services at Oxford Finance. "Vitalogy has been an industry leader in establishing safety protocols and measures for its residents during these turbulent times. Oxford is confident that the group will continue to deliver its successful care model and make a positive impact in this new geographic area."
"AB is pleased to grow its Healthcare portfolio, Vitalogy has an outstanding track record and we look forward to fueling that growth across the U.S.," said Sam Zalmanov, managing partner at AB Asset Management.
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 $6 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas. For more information, visit https://oxfordfinance.com/
About AB Asset Management AB Asset Management is a vertically integrated real estate company based in Miami Beach focused on value added and opportunistic investments across various asset classes and geographies. The company manages equity funds for select family offices and strategic partners. For more information, visit https://liveatab.com/