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Ziegler Closes $13.6MM Refinancing for Altitude Health Services Affiliate

August 20, 2021, 07:00 AM
Filed Under: Nursing Facilities

Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $13,600,000 refinancing for an Altitude Health Services affiliate.

The refinance was for a 187-bed skilled nursing facility, doing business as Mountain View Health and Rehabilitation, located in El Paso, Texas. The property was acquired by Altitude in 2016 using bank financing. The HUD 232/223(f) refinance allowed Altitude to lock in low interest rate, fixed rate, non-recourse debt for 35 years.

Christopher Utz, Managing Director, Ziegler Senior Housing & Care Finance stated, "This was a very difficult HUD loan to get over the finish line with a lot of moving parts and a very tough environment. Ultimately, the Ziegler HUD team was able to execute and exceed the borrower's expectations."

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