A California-based owner/operator just refinanced three of its Colorado skilled nursing facilities with the help of Walker & Dunlop. Kevin Giusti led the origination team on the $16.41 million HUD loan, which took out existing third-party debt on the properties and recouped partner debt to fund capital improvements at each location.
This portfolio was spread out across the state, with two locations in western Colorado and one in the east. Built in 1964, the Rocky Ford facility features 99 beds in 29 units and is the only VA-contracted facility within 80 miles. The Paonia facility has 56 beds in 28 units and also offers memory care services. It was built in 1984 and is the only SNF within 22 miles. Finally, the Glenwood Springs facility features 54 beds and 29 units and is located less than a mile from Valley View Hospital, a 78-bed not-for-profit medical center offering neurosurgery, a comprehensive cancer center, and interventional cardiology. The SNF is also the only one of its kind in the area.
