Sterling National Bank, the principal subsidiary of Sterling Bancorp, announced that it has provided a $30.0 million revolving credit facility to a prominent national skilled nursing facility operator. Terms of the transactions were not disclosed.
The transaction was originated through its newly created healthcare-focused specialty finance group. Dan Chapa, Senior Managing Director at Sterling said, “Sterling is very pleased to be able to bring our deep understanding of the healthcare markets to provide financings to growing, market leading entities.”
Sterling National Bank offers a complete line of commercial, business, and consumer banking products and services.