Three skilled nursing facilities with a total of 512 beds will receive $47.2 million in refinancing through HUD 232/223(f) loans, Capital One announced in July.
The facilities are Eastpointe Rehabilitation and Skilled Care Center in Chelsea, MA; Southpoint Rehabilitation and Skilled Care Center in Fall River, MA; and Baypointe Rehabilitation and Skilled Care Center in Brockton, MA. They were acquired, along with a fourth facility, in 2016.
The deal allows them to replace bank debt with low-rate, long-term financing, Capital One said.
From the August 01, 2018 Issue of McKnight's Long-Term Care News
