Housing & Healthcare Finance advises on $940M loan for Deutsche Bank
Housing & Healthcare Finance has advised on a $940 million loan for Deutsche Bank involving 167 skilled nursing facilities in 19 states, with significant concentrations in Colorado, Maryland, Michigan, North Carolina and Texas.
The transaction includes 20,222 licensed beds. The loan was provided to a subsidiary of Rubin Schron and will be used to refinance an existing commercial mortgage-backed securities loan funded in 2006. Some members of the HHF team also worked on the original financing of the portfolio in 2004 and refinancing in 2006.The portfolio has been master-leased to SavaSeniorCare, which is owned by Tony Oglesby.