Harborview Capital Partners arranged a $196 million Department of Housing and Urban Development (HUD) 232/223(f) refinance loan for a portfolio of 13 skilled nursing and assisted living facilities.
The portfolio includes about 1,700 licensed beds. The loan, obtained for a large regional operator who asked to be kept anonymous, was originated by Harborview principals Ephraim and Jonathan Kutner.
Harborview is a commercial real estate finance, equity, and advisory firm headquartered in Lawrence, N.Y.
The deal marks the most recent entry in a growing list of major HUD loans to SNF portfolios. KeyBank recently provided $67.2 million in financing for a three-property skilled nursing portfolio in West Virginia, also through the Federal Housing Administration’s 232/223(f) loan program. Capital One recently closed $47.2 million in HUD loans for a three-SNF portfolio in Massachusetts, while Greystone provided a $75 million HUD-insured loan for the three-SNF Optima portfolio in New York in May.
Written by Maggie Flynn