Housing & Healthcare Finance (HHC Finance), which recently announced that it is now part of and will be known as NewPoint Real Estate Capital going forward, closed a $19.5 million HUD refinance for Homestead Senior Living in Rexburg, Idaho. The loan refinanced conventional debt with a much higher rate and allowed the borrower to get an interest rate in the low-mid two’s.
Homestead has 178 units of assisted living, memory care and independent living services across two campuses in Rexburg and nearby St. Anthony. Both properties were built in the early 2000s and have undergone several expansion projects over the last 15 years. Helios Healthcare Advisors brokered the deal, and Charles Dabich at HHC Finance originated the transaction.
