Capital One to refinance Chicago SNF for $24M

Capital One Financial Corporation has provided a $23.7 million fixed rate HUD 232/223(f) loan to refinance a skilled nursing facility near Chicago.

The facility has 400 beds and was built in northern Illinois in 1972. This loan will help the short and long-term care facility update the property to improve its marketability.

Several skilled nursing facilities have been refinanced through Capital One's HUD program. The program includes a low, fixed, interest rate, amortization for up to 40 years and a loan-to-value ratio of up to 85%.