Capital One said it has provided a $5.9 million, 35-year fixed rate HUD loan to refinance a skilled nursing facility in Princeton, IN.
The facility has 95 beds and was built in 1968. There are a mix of semi-private and private rooms.
“The 232/223 (f) loan program — with its extended maturities — is a great way for investors to lock in today’s historic rates well into mid-century,” Capital One Senior Vice President Joshua Rosen said. “This program is attractive to skilled nursing operators because the loan–to-value ratio can be as high as 85 percent in some circumstances and eligible loans are nonrecourse and fully assumable.”
