Capital One Bank closes $9M loan to refinance NH facility
Capital One Specialty Healthcare Real Estate provided an $8.8 million loan to refinance Wheelock Terrace, a 70-bed assisted facility in Hanover, NH. The facility also provides memory care services.
Wheelock Terrace is owned by Terrace Communities, which owns assisted living communities in Florida, Maine, New Hampshire and Vermont.
The transaction was originated by Carolyn Whatley, senior vice president of originations of the company's Florida office. This is one of three transactions that Whatley underwrote for Terrace Communities. The other two include Tequesta Terrace in Tequesta, FL, and Windham Terrace in Windham, NH.
The refinancing decreased the owner's rate by almost 1.5%, yielding $90,000 in annual debt service savings.
Capital One Specialty Healthcare Real Estate is part of Capital One Bank's Commercial Real Estate Group, which provides financing in markets nationwide.