The team at Harborview Capital Partners closed several transactions for senior care facilities before the end of the year. First, David Nussbaum and Eli Kutner advised on the sale and arranged acquisition/construction financing for a hotel in Fishkill, New York to be converted to a 200-bed assisted living community. The $10.7 million loan came with a three-year, interest-only term and five-year perm option with a rate of LIBOR+325.
Next, Mr. Nussbaum originated a $23.9 million loan to refinance a 193-bed assisted living community in Brooklyn, New York. The non-recourse loan came with a 30-year amortization and 10-year term.
Finally, Ephraim Kutner and Jonathan Kutner arranged a $16.026 million HUD loan for an 84-bed rehabilitation facility in Niles, Illinois. A local operator obtained the non-recourse debt with a 35-year amortization period and low interest rate. Not a bad way to end 2020.
