BHI and Contemporary Healthcare Capital, LLC announced today the closing of a combined $9.525 million in loans to Townview Realty, LLC for the acquisition of a 118-bed licensed skilled nursing facility located in Canonsburg, PA.

The $7.95 million senior loan provided by BHI includes a $600,000 line of credit. BHI will guarantee an additional earn-out feature of $2.1 million once the facility achieves certain predetermined performance metrics. CHC provided the companion $1.575 million mezzanine loan. Proceeds of the loans were utilized for the acquisition and operation of the facility as well as to pay customary closing costs. David Simha, President and Owner of Townview, remarked, “I can truly say the process from beginning to end was a pleasure. The level of professionalism and flexibility demonstrated by both teams was unparalleled.”

This was the first joint loan transaction between BHI and CHC. Steve M. McGee, Director of Operations of CHC, and Tami Antebi, First Vice President of BHI, ensured that the entire process was seamless for Townview. Ms. Antebi commented, “From the beginning, all of the parties worked well together. We were glad to extend this loan to experienced operators for a stabilized asset in a market we know well.” Mr. McGee stated, “This was our first transaction with both BHI and Townview and based on the smooth process, mutual cooperation and outstanding responsiveness and professionalism, we can only hope this is the first of many together in the future.”

Steven Caligor, Executive Vice President of BHI Healthcare and CRE, who oversaw the deal stated, “The two teams used their prior experiences with mezzanine and A/B structures to distinguish themselves from other lenders to offer a competitive, well-structured loan. We look forward to continued success with our new borrowers and Contemporary Healthcare. Most of all, we value our direct relationship with these well-established and highly-experienced operators.”

About BHI

BHI, the U.S. division of Bank Hapoalim, Israel’s leading financial institution, provides commercial lending solutions to Middle Market clients in the following sectors: commercial real estate; food and beverage; entertainment; apparel; healthcare and high-tech. In addition to its New York headquarters, the bank operates Representative Offices in the United States: Woodcliff Lake, New Jersey; Aventura, Florida; and two locations in California, downtown Los Angeles and Beverly Hills.

For further information about BHI, please visit www.bhiusa.com

About Contemporary Healthcare Capital, LLC

Contemporary Healthcare Capital, based in Chattanooga, TN, has focused on providing financing solutions solely to the seniors housing and post-acute care industries for nearly 20 years, which enable us to have a deep understanding of trends and challenges facing the industry at any given time. We are more relationship driven than transactional as evidenced by multi-year clients who continue to utilize our services and products year after year. We don’t adhere to “box lending” and uniquely tailor our loans and investments to meet the mutual needs of both our provider/borrower clients as well as our lending partners.