Forbright Bank Healthcare Team Closes Three Deals to Kick Off 2024

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Today's Date: May 2, 2024

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Forbright Bank Healthcare Team Closes Three Deals to Kick Off 2024

CHEVY CHASE, Md. , April 16 /Businesswire/ - Forbright Bank’s Healthcare Lending team closed three new loans in the first quarter of 2024. The loans, all provided to well established owners/operators, helped finance the acquisition of two assisted-living facilities in the Midwest and two skilled-nursing facilities in the Southeast. In total, more than $50 million of bridge and bridge-to-HUD lending financed about 500 beds for seniors across four facilities.

"Forbright’s Healthcare team has worked tirelessly this year to support our clients and deliver customized, thoughtful, and prompt financing solutions,” said Amy Heller, President and Chief Lending Officer for Healthcare and HUD Lending at Forbright Bank. “Our healthcare clients are working in an industry that’s vital to the health and well-being of our seniors, and we’re proud to ensure access to capital in this period.”

The financing announced today is for facilities that range from being built within the last few years to more than 15 years old with renovations planned to provide enhanced experiences for residents and staff.

Forbright Bank’s Healthcare team has decades of experience supporting companies large and small. The Bank provides loans for acquisition, recapitalization, working capital, HUD, and other lending products and services to healthcare entities across the nation.

Forbright’s financing under the U.S. Department of Housing and Urban Development helps organizations access non-recourse, assumable financing for the purchase, refinance, substantial rehabilitation, or new construction of licensed skilled nursing, assisted living, and memory care facilities.

About Forbright Bank:

Forbright Bank (www.forbrightbank.com), Member FDIC, Equal Housing Lender, is a full-service bank taking action to decarbonize the economy. Headquartered in Chevy Chase, Maryland, Forbright is committed to accelerating the transition to a sustainable, clean energy economy by financing the companies, investors, and innovators driving that change.