CHICAGO, June 11, 2004 - GE Healthcare Financial Services, a unit of GE Commercial Finance, provided a $23 million credit facility to Formation Properties IV, LLC - a investment entity formed by Formation Capital, LLC, JDI Realty, Inc, and Stephen D. Bell & Company to deliver equity capital and asset management services to senior housing properties. The loans will be secured by four facilities across three states providing varying levels of independent, assisted, and Alzheimer care.

"GE Healthcare Financial Services' knowledge of the long-term care industry, as well as their financial strength, enabled them to quickly accommodate and close this complex transaction to meet our financial needs," said Mike Jones, vice president of Formation Capital. "This financing provides us with the flexibility we need to ensure future growth opportunities, manage our risks and make the most of our real estate assets."

"We are pleased that clients like Formation Capital, JDI Realty, Inc., and Stephen D. Bell & Company continue to look to GE Healthcare Financial Services to deliver large, highly structured financing arrangements," said David Detrick, vice president and investment officer for GE Healthcare Financial Services. "Our industry expertise and financial strength enabled us to evaluate the risk of this large, geographically diverse portfolio with various levels of care and service, and quickly structure a transaction to meet the specific needs of our customer."

GE Healthcare Financial Services, a unit of GE Commercial Finance, is a provider of capital, financial solutions, and related services for the global healthcare market. With over $13 billion of capital committed to the healthcare industry, GE Healthcare Financial Services offers a full range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physicians' practices and life sciences, GE Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit .

Media Contacts

Deia Campanelli
GE Healthcare Financial Services
312-441-6169