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MANCHESTER TOWNSHIP, N.J. — Popular Community Bank has provided a total of $23.5 million in financing for AristaCare, a New Jersey-based owner and operator of skilled nursing facilities.
AristaCare used the capital to fund a purchase option on a facility the company operates, AristaCare at Manchester. The 165-bed community is located in Manchester Township, approximately 45 miles east of Philadelphia.
The financing also includes capital to add a new onsite therapy gym and pool, plus a $1.5 million working capital revolving line of credit.
AristaCare operates six skilled nursing facilities in New Jersey and Pennsylvania. The company has operated AristaCare at Manchester since 2014.