Capital One announces loan
Capital One announced this week that it has provided a $7.2 million fixed-rate HUD 232/223(f) loans to refinance Oak Brook Healthcare Centre, a senior nursing facility in Oak Brook, IL.
The sponsor is an independent, privately held owner/operator with other properties in Illinois.
The center was constructed in the 1970s and 1980s, with a therapy gym added in 2007. The community is licensed for 156 beds.
“This transaction highlights the way the new, updated LEAN regulations benefit borrowers,” Senior Vice President Joshua Rosen, who oversaw the deal, said. “Previously, debt incurred by a licensed operator was not eligible for refinancing. For this transaction, we were able to include project-related debt associated with the purchase of furniture, fixtures, and equipment, capital expenditures, and working capital related to lease-up and stabilization.”
The loan has a 35-year term.