Harborview Capital Partners arranged a $32.4 million Department of Housing and Urban Development (HUD) Section 232/223(f) loan for the refinancing of a 210-bed skilled nursing facility for the Chicago-based operator Legacy Healthcare.
The loan features a 35-year term and “amortization at an extremely aggressive rate,” according to a statement announcing the deal.
Ephraim Kutner, Jonathan Kutner, and Eli Kutner negotiated the transaction for Harborview.
Oxford Finance Boosts Credit Facility for New Jersey SNF Operator
Oxford Finance LLC closed a $19.8 million add-on term loan and revolving line of credit for a New Jersey-based owner and operator of SNFs and other long-term care facilities; the loan brings the credit facility past $75 million.
The additional proceeds were used to finance the acquisition of a facility in the eastern U.S.
Monticello Provides $15.5 Million in Financing for Kansas SNF Portfolio
Monticello provided $15.5 million in first-lien debt financing for the acquisition of one SNF and one skilled nursing/inpatient rehabilitation facility, and for the refinancing of two SNFs totaling 282 beds, in the state of Kansas.
The sponsor of the transaction, which was not disclosed, is an owner and operator with a current portfolio of 945 licensed beds.
Capital Funding Closes $16.8M Acquisition Financing for Illinois SNF
Capital Funding Group closed a bridge-to-HUD loan on April 1 as a joinder to an existing loan allowing for the acquisition of Hallmark House Nursing Center in Pekin, Ill.
The SNF was added to an existing seven-facility portfolio in Illinois; Capital Funding Group provided an additional $1.7 million for the acquisition, which increased the senior secured term loan debt of the portfolio to $16.8 million.
The transaction was originated for Capital Funding Group by Craig Casagrande, director of real estate finance, and Andrew Jones, associate of health care finance.
Blueprint Announces Slew of SNF Deals in Ohio, Arizona, Texas
Blueprint Healthcare Real Estate Advisors announced several SNF deals in the first two weeks of May. The advisory firm announced the sale of a 150-bed SNF in Youngstown, Ohio that was purchased by a “well-capitalized owner-operator actively expanding in the Midwest.”
Blueprint also announced its role in LTC Properties’ (NYSE: LTC) sale of its Preferred Care portfolio, which the real estate investment trust (REIT) announced in April.
Blueprint additionally assisted with the sale of a 160-bed SNF in Mesa, Ariz., and the sale of seven SNFs with a total of about 1,150 beds in Texas.
Companies featured in this article:
Blueprint Healthcare Real Estate Advisors, Capital Funding Group, Harborview Capital Partners, Legacy Healthcare, LTC Properties, Monticello, Oxford Finance LLC
