$55.4M Skilled Nursing Refi in Brooklyn, $29M Loan in Upstate New York

Allure Secures $55.4M Refinance Loan for Brooklyn Nursing Home

Allure Group secured a $55.4 million refinancing loan for a nursing home in Brooklyn, N.Y., The Real Deal reported.

Popular Community Bank assumed the existing unpaid $29 million balance at King David Center for Nursing and Rehabilitation, the publication said, citing property records filed this week.

Popular also provided a $26.3 million gap mortgage, according to the records.

Lantis Enterprises and Welcov Healthcare Announce Transition of Properties

Spearfish, S.D.-based Lantis Enterprises will take over the management of the skilled nursing facilities, home health agencies, and assisted living facilities that it leased to Welcov Healthcare, LLC, in 2012.

The Independent Record reported the announcement.

Residents at the facilities in Nebraska, Iowa, South Dakota, and Montana can expect similar services to those offered under the previous management, according to the Record.

Harborview Capital Partners Arranges $29M Loan for SNF Acquisition in Upstate New York 

Harborview Capital Partners arranged $29 million in financing for the acquisition of a 236-bed skilled nursing in upstate New York. The transaction includes a $24 million acquisition loan, which was provided by a regional lender, a $3.75 million capital expenditure loan, and a $1.25 million line of credit.

The acquisition loan features a five-year term and 25-year amortization; the component loan was originated by Ephraim Kutner and Jonathan Kutner, the firm’s principals, and was negotiated by David Chiger.

Written by Maggie Flynn