ALEXANDRIA, Va.–(BUSINESS WIRE)–Feb 3, 2021–
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 $23.5 million senior credit facility and revolving line of credit to Prosper Life Care Inc. (“Prosper Life” or “the Company), a management company with over three decades of combined experience in healthcare, Prosper Life specializes in assisted living and memory care.
The proceeds were used for the acquisition of two assisted living/memory care facilities located in Massachusetts totaling 214 units.
Prosper Life Care was formed in 2019 with the purpose of creating a lasting impact on the residents of assisted living and memory care communities. The Company operates with the goal to improve communities through efficient use of process, technology, and equipment. This is done by living by the Prosper Life core values of making life fun, making the community a home, and delivering purpose to everyone.
“Although this is Oxford’s first transaction with Prosper Life Care, the Company’s principals and investors have a long history of success in the space,” said Tracy S. Maziek, head of healthcare services at Oxford Finance. “We anticipate much success for this team in the future.”
“We could not have selected a better partner than Oxford for financing,” added Russ Papia, president of Prosper Life Care. “We all had to think outside the box to get this deal across the finish line during a pandemic. The team at Oxford was extremely professional, responsive, and understanding throughout the process.”
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 Prosper Life Care
Prosper Life Care is a forward-thinking management company specializing in assisted living. With a combined experience of over three decades in healthcare, Prosper Life Care’s leadership team has a passion for providing care that enhances a person’s life. This is carried out by improving quality of life for not only the residents, but the staff that are responsible for providing care. To find out more about Prosper Life Care, please visit https://prosperlifecare.com/
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Oxford Finance LLC
KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA
INDUSTRY KEYWORD: SENIORS PRACTICE MANAGEMENT MANAGED CARE FINANCE HEALTH BANKING PROFESSIONAL SERVICES CONSUMER
SOURCE: Oxford Finance LLC
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PUB: 02/03/2021 10:33 AM/DISC: 02/03/2021 10:33 AM