Maryland Senior Care Portfolio Refinances With Harborview
Harborview Capital Partners announced it has arranged to finance a portfolio of four skilled nursing facilities and one assisted living community in Maryland. A New Jersey-based owner recently purchased the properties and was seeking a cash-out refinance. Working with Ephraim Kutner, Jonathan Kutner and Eli Kutner of Harborview, they obtained an $81 million loan from a national lending partner. The financing came with an aggressive LIBOR-based fixed interest rate and a four-year term. With the transaction, the borrower was able to cash-out in excess of $20 million, with limited recourse. Read More »
Harborview Capital Partners Arranges HUD Refinances
Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, recently announced a few HUD transactions. First, on behalf of a repeat client, Ephraim Kutner and Jonathan Kutner arranged a $7 million HUD loan for a 96-bed skilled nursing facility in Lake County, Illinois. The non-recourse loan came with a 35-year amortization schedule. Then, Harborview took advantage of the low-interest rate environment to refinance several previously placed HUD loans for their clients. The Harborview team achieved substantial rate reductions on loans exceeding $53 million for skilled nursing facilities totaling more than 450 beds in Illinois and New Jersey. That reduced annual... Read More »
California SNF Acquisition Gets Financing from Harborview
An experienced private investment group acquired a portfolio of six skilled nursing facilities thanks to bridge financing at 90% loan-to-cost. Totaling $51.9 million, the three-year loan was originated by Jonathan Kutner and Eli Kutner of Harborview Capital Partners, and negotiated by Robert Kellerman. The acquired facilities combine for 678 beds and are located throughout California. Read More »
Harborview’s HUD Haul
Despite the backlog caused by the government shutdown earlier this year, Harborview Capital Partners’ HUD pipeline has been particularly active lately, totaling over $46 million in two March transactions. The larger transaction featured a $23.9 million loan closed on behalf of a brand-new 180-bed skilled nursing facility in Middlesex County, New Jersey. The team then closed a $22.25 million HUD loan for a 164-bed SNF in Chicago, Illinois. In addition, Harborview flew down to sunny Florida to arrange two transactions for assisted living clients. First, for a 136-bed community on the Gulf Coast of Florida, they closed a $6.7 million loan with a five-year term, 20-year amortization and 12... Read More »