Capital Funding Refinances Baltimore Skilled Nursing Facility

Over four years after acquiring a 105-bed skilled nursing facility in Baltimore, Maryland, its owner decided to refinance with the help of Tim Eberhardt and Erik Howard of Capital Funding. Part of a three-property portfolio, this facility was built in 1976 and enjoyed consistently strong operating results. The owner had built up equity at the property, and through the refinance was able to deleverage the other two assets in the portfolio, including the repayment of “non-project” debt. The Capital Funding team also converted a short-term, non-agency loan into permanent, fixed-rate HUD financing that totaled $12.3 million.

 

 

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