Under this new program, the lender will provide loans to skilled nursing owners and operators with market-based pricing depending on leverage and credit. The structure includes up to two years for the construction period with rollover to a four to five-year mini-permanent loan. The loan-to-cost will be up to 75%, and terms will include a 25-year amortization schedule on the principal balance after the construction phase has ended.
"The need for substantial renovation or replacement of skilled nursing properties is currently very strong, and we expect this trend will continue to increase for the foreseeable future. The timing was perfect to launch this new program to utilize our historic expertise to help investors and operators meet current market demands and deliver quality care." the lender said.
For more info on this program please contact Steve Felt at (609) 534-0643 or firstname.lastname@example.org