Harborview Capital Partners arranged a bridge-to-HUD loan for a seniors housing community in Oregon. The property consists of 55 beds of assisted living and memory care. It received a $10.275 million loan, which comes out to $186,800 per bed.
The loan features a 24-month, interest-only term, with a historically low rate. We know the demand for that sort of relatively cheap debt is out there, but the supply has been hit somewhat by the heightened caution surrounding the pandemic. Eli Osdoba of Harborview originated the transaction.
