$135m credit line secured.Provident Senior Living Trust, a new real estate investment trust focused on acquiring senior living properties, has received a $135 million senior secured revolver from GE Healthcare GE Healthcare is a $18 billion (USD) unit of General Electric (GE). It employs more than 46,000 people worldwide and is headquartered in Chalfont St. Giles, Buckinghamshire, United Kingdom. GE Healthcare is the first GE business segment headquartered outside the United States. Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . Provident will use the five-year line of credit to acquire senior living properties and to provide capital for corporate operations. "We are pleased to be working with GE Healthcare Financial Services and were impressed with the execution in completing this transaction," said Darryl W. Copeland, Jr., Provident's chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "This line of credit initially will be used to acquire 38 senior living properties. GE's ability to commit to and execute this in a short time period was important to us." "Our industry acumen and strong financial position give us tremendous flexibility in developing financing to meet each customer's needs as well as providing certainty of execution," says John Cobb John Cobb can refer to:
n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. for GE Healthcare Financial Services. "Customers like Provident seek out those qualities in a financing partner, and that's why we are so focused on delivering against these expectations every time." |
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