Oxford Finance, 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).
The line of credit will be used to fund ongoing operations and provide working capital for an 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.”
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life science and healthcare services companies worldwide.