Great Elm Capital Corp. and an affiliate of Berkadia Commercial Mortgage will form Great Elm Healthcare Finance in a joint venture to provide venture capital to companies focused on skilled nursing facilities and senior living communities as well as acute care facilities and specialty pharmacies, McKnights reports.
Berkadia, according to GECC, will be a strategic minority partner in the joint venture.
Headquartered in Nashville, TN, GEHF will be led by Michael Gervais as CEO, Ray Zilke as vice president of portfolio and Chad Kerr as vice president of credit, along with a management team with “substantial” expertise in healthcare real estate. GEHF also will be supported by Great Elm Specialty Finance’s existing infrastructure.
GEHF will provide working capital, refinancing, acquisition and recapitalization to healthcare companies as well as provide asset-based revolving loans, mortgage financing, secured debt and capital for healthcare companies in transition. Read more.
