Investors Bank Healthcare Lending Group provided $30 million in financing to Atrium for a construction loan, term debt and working capital.
“We are proud to have partnered with the Atrium team that developed this brand new, state-of-the art center that was just presented to the local community. Atrium is a revered owner-operator of post-acute care centers in Michigan, New Jersey and Wisconsin, and we are excited to see the team offer their brand of care at this location. In today’s world of healthcare, such a leading-edge center is critical to the long-term success of a patient’s recovery and the rapid return to his or her home,” Investors Bank’s Senior Vice President and Team Leader of Healthcare Lending Ron Krauskopf said.
The financing resulted in Atrium’s new center, a 100,000-square-foot, three-floor acute care building that has 124 suites for rehabilitation services.
“We have opened the most exceptional post-acute care rehabilitation center in New Jersey and probably across the nation. Our Center is a masterpiece that was thoughtfully designed and constructed with meticulous attention to detail. We have succeeded in creating a Center that delivers exceptional patient care for faster and more thorough recovery,” Samantha Newman Webster, Atrium’s Livingston campus executive director.
The new center features state-of-the-art physical care therapy equipment, an aquatic therapy pool and advanced systems for rehabilitation. Its amenities include a movie theater, outdoor fireplace with sitting area, library, barber and salon, and more.
“We are fortunate that Investors Bank CEO Kevin Cummings and the Healthcare Lending Team shared our vision and they supplied part of the financing. The result is an incredible building that is a joint effort by many brilliant people and on this special night, we are recognizing their efforts and achievements,” said Atrium’s Managing Member Kevin P. Breslin.