Capital One Bank closes $56M in loans for IL and NY facilities
Capital One Specialty Healthcare Real Estate, part of Capital One Bank's Commercial Real Estate Group, provided $31.8 million in loans for skilled nursing facilities in Illinois. An $8.8 million loan will be used to acquire a 125-bed property in Marion. Additionally, loans of $17.9 million and $5.1 million will be used to refinance a 228-bed facility in Chicago and a 144-bed facility in Itasca.
Capital One Specialty Healthcare Real Estate also announced that it provided a $24.2 million loan to refinance a 280-bed assisted living facility in Flushing, NY. With this loan, Capital One lowered the interest rate in half and secured a 12-year loan term.