Communicare Health Services Acquires Nine Nursing Facilities

Benesch represented CommuniCare Health Services in the acquisition and refinance of nine nursing facilities and 936 beds in Ohio and Maryland from a public REIT. Earlier this year, CommuniCare acquired six Maryland facilities and one in West Virginia.

Capital One served as the lead arranger and administrative agent for a $61 million syndicated term loan and a $12 million syndicated revolving credit facility to affiliates of CommuniCare.

CommuniCare is one of the nation’s largest providers of post-acute care, which includes skilled nursing rehabilitation facilities, long-term care facilities, assisted living communities, inpatient psychiatric specialty hosptials and long-term acute care hospitals. Founded in 1984, CommuniCare’s philosophy is “Serving with Pride.”

The Benesch team was led by Harry Brown and Joseph Tegreene, and included Joel Pentz, Daniel O’Brien and Mitchell E. Gecht.