G Capital Markets arranged the permanent refinancing of a skilled nursing facility with an assisted living component in Plum City, Wisconsin. The facility was originally built in 1987 and was renovated in 2005, with an AL expansion built in 2014. In total the project operates 65 beds in 41 private and semi-private units, with 70% SNF beds and 30% AL. The facility has performed strongly with occupancy consistently over 80% and a high debt service coverage of 2.5x.
A 232/223(f) HUD takeout loan was funded to pay off the balance of a term loan portfolio credit facility previously structured by G Capital founder Grant Goodman. The buyer is an owner/operator based in Nevada that manages and invests in senior care properties in several states across the country.
