Skokie, IL – February 1, 2016 – Cascade Capital Group, a private equity firm, announces the purchase of a three skilled nursing facility (SNF) portfolio located in Colorado and Utah. Purchased from APEX Healthcare Systems, the portfolio is comprised of over 450 beds, with a purchase price in excess of $31 million dollars. Oxford Finance LLC, a specialty finance firm, provided the financing for the transaction with a $27 million term loan to Cascade Capital Group, LLC.
Cascade Capital is a newly formed private equity firm that invests in long-term care facilities. Many of Cascade’s facilities are managed by Legacy Healthcare, which is headquartered in Skokie, Illinois. Legacy Healthcare operates 21 facilities in the Chicago area, plus the three SNFs recently purchased by Cascade Capital.
“We feel these newly acquired facilities are great opportunities for us in the western U.S.,” commented Chaim Rajchenbach, principal, Cascade Capital Group.
“We are pleased to work with Cascade Capital and provide financing for the acquisition of three, state-of-the-art facilities,” said Tracy S. Maziek, managing director at Oxford Finance. “The principals of Cascade Capital are successful veterans in the skilled nursing and post-acute market, and its management company, Legacy Healthcare, continues to take great pride in providing a high standard of service for its residents.”
CASCADE CAPITAL GROUP, LLC
Cascade Capital is a private healthcare real estate investment and management firm focused on skilled nursing, post-acute rehabilitation and transitional care facilities, as well as assisted living communities. Launched in January 2016 by the owners/operators and leadership team that built Legacy Healthcare, Cascade Capital is expanding its holdings in new markets and growing its portfolio of operators/lessees. For more information visit www.cascadellc.com.
Media Contact: Mordy Kaplan | Cascade Capital Group | 847-745-7000 | firstname.lastname@example.org