Capital One refinances SNF in Chicago

A 318-bed skilled nursing facility in Chicago will be refinanced with the help of a $20.9 million loan from Capital One.

The fixed-interest HUD 232/223 (f) loan was facilitated by the financial company's Multifamily Finance's Office in Chicago and Senior Vice President Joshua Rosen. The loan is just one of several different HUD-insured projects the pair have funded in six different states.

Rosen said issuing the loan required collaboration between a number of different parties.

“This was a complex transaction involving multiple master leases, accounts receivable lines that cross multiple facilities, and a multilayer organizational tier structure,” Rosen said.  “The Chicago HUD office worked hand-in-hand with us to help us meet the client's deadline.”

The Medicaid- and Medicare-certified facility was built in 1975.  It currently offers onsite dialysis and offers services to patients with dementia.