Several years after acquiring a 160-bed skilled nursing facility, an experienced owner/operator is refinancing with the help of Housing & Healthcare Finance. Working through HUD, HHC Finance closed a $28 million loan for the greater New York area facility, replacing higher-rate and shorter-term debt in the process.
Since the acquisition, the owner has significantly improved operations and obtained a five-star rating from CMS. Still, renovations were needed at the 20-year old facility, and the HUD loan will provide for around $7 million in improvements.
