Dwight Capital arranged a HUD refinance for a skilled nursing facility in Union City, New Jersey (New York City MSA). Built in 2008 right at the New Jersey end of the Lincoln Tunnel, the 127-bed facility provides a variety of services including on-site diagnostic x-rays, occupational therapy, physical therapy, speech/language pathology and podiatry services, among others.
Its owner obtained a $12.4 million HUD loan with a 35-year term and amortization. The lower fixed interest rate also provided the borrower with substantial annual debt service savings. Adam Offman of Dwight Capital originated the transaction.
