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Chicago & Midwest  + Greater Chicagoland  + Healthcare  | 

Dwight Capital Closes Refi on SNF Portfolio

Dwight Capital closed a $56-million bridge refinance for a portfolio of eight skilled nursing facilities located across the Chicagoland region. Cross River Bank served as co-lender and participant in the transaction.

The SNF portfolio includes Lexington Health Center Bloomingdale, Lexington of Schaumburg, Lexington of Orland Park, Lexington of Lombard, Lexington of Chicago Ridge, Lexington of Elmhurst, Lexington of La Grange, and Lexington of Lake Zurich. Together, the facilities are comprised of 1,550 beds across a total of 25 acres. 

The term loan refinanced the portfolio’s existing capital structure and provided working capital to the sponsor, Lexington Health Network. In conjunction with the close, Legacy Healthcare assumed operations from Lexington under a new operating lease with a purchase option. Adam Offman, managing director of healthcare finance at Dwight Capital, originated the refi.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).