FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / Press Releases / Read Press Release


Capital One Closes $23.7MM FHA Loan to Refinance Skilled Nursing Facility

June 30, 2015, 07:39 AM
Filed Under: Real Estate

Capital One provided a $23.7 million fixed-rate, HUD 232/223(f) loan to refinance a 400-bed skilled nursing facility in Northern Illinois. Senior Vice President Joshua Rosen originated the transaction.  Rosen leads Capital One’s agency healthcare lending from the company’s Chicago office. The key principals are experienced owners and operators of skilled care facilities and have refinanced a number of properties with Capital One using HUD’s 232/223(f) program.

As one of the leading participants in HUD’s LEAN lending program, Capital One can streamline the application process and delivery of 232/223(f) financing.  “For investors in skilled nursing properties, the 232/223(f) program is a valuable tool,” said Rosen. Advantages of the program include low, fixed, interest rates and amortization up to 40 years and a loan-to-value ratio of up to 85 percent in certain instances.  In addition, the loans are fully assumable for qualified buyers.

The property, built in 1972, is located in a community with a diversified economic base and a stable short- and long-term outlook. Multiple updates and improvements to modernize the property have improved improve its marketability. 

Capital One Bank’s Commercial Real Estate Group offers a comprehensive array of financing solutions for property owners and developers nationwide, including balance sheet and agency lending.          

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.