Capital One has provided a $21.5 million fixed-rate HUD 232/223(f) loan to refinance Avantara Long Grove, a 195-bed senior nursing facility in Long Grove, IL.
The sponsor was Cascade Capital Group, which purchased the facility in 2016. The loan has a 35-year term.
The facility was built in 1995, with additions in 2006 and 2007. Cascade has made more than $3 million so far in capital improvements, including upgrades to the therapy gym, offices and front lobby.
