CIBC Bank closed a $32 million cash-out commercial mortgage refinance related to two skilled nursing facilities in Kentucky and Tennessee. Both are leased to, and operated by, a high-quality, national skilled nursing operator. The two facilities encompass 243 total licensed beds and the buildings each have an effective age of 20 years. The two-facility portfolio posts strong operating results with occupancy at 82% with EBITDAR margins of 21%. The financing was handled by Matthew Tyler and Neal Netzel.
CIBC Finalizes Refinance for High-Quality Skilled Nursing Operator
