Skilled nursing provider receives $22.6M in acquisition funding
HJ Sims announced that its private lending group, along with a partner, funded a $22.625 million high-leverage first mortgage for a provider to acquire two healthcare campuses.
The deal allowed a loan equal to around 90% of the acquisition costs for the portfolio, the firm said.
The loan functions as a single debt obligation under one loan agreement and security package.
The provider has a two-year interest-only period limiting debt service expense while it implements performance improvement measures, Sims added.