Phoenix, Arizona-based Paragon Mortgage Corp. arranged the refinance of a southern California skilled nursing facility. Located in North Hollywood within a three-mile radius of both Pacifica Hospital of the Valley and Kaiser Permanente Medical Center, the facility consists of 128 beds in a single story. It is affiliated with Kaiser Permanente and provides skilled nursing and rehabilitative services to both pediatric and adult patients, as well as respiratory therapy care, speech, occupational and physical therapy, and other services.
The owner, Rancho Santa Fe, California-based Darbun Enterprises Inc., obtained a $16.3 million HUD loan to refinance the facility. The loan came with a 25-year fully amortizing term and will provide funds for facility repairs and improvements.
