RED Mortgage Capital closes loan for SNF in Ohio
RED Mortgage Capital closed a $3.5 million FHA 232/241 (a) loan for Woodlands at Hampton Woods, a skilled nursing and assisted living facility in Poland, OH.
The loan will fund the addition of a new skilled nursing building for the 121-bed campus, the firm said. The Rehabilitation Center at Hampton Woods will include 26 beds designed for short-term rehabilitation and a 5,000-square-foot therapy gym.
RED obtained an Early Start approval for the owner, which allowed construction to begin prior to the loan closing.