Love Funding Closes $15.3 Million Loan Refinancing for Christian Care Home in Ferguson, Missouri

||Love Funding Closes $15.3 Million Loan Refinancing for Christian Care Home in Ferguson, Missouri

christian_care_homeLove Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of a $15.3 million loan refinancing for Christian Care Home, a 92-unit skilled nursing and assisted living center in Ferguson, Missouri.
 
Love Funding Senior Director Robyn Cunningham and Director Adrian Hartman of the St. Louis office secured the financing through the U.S. Department of Housing and Urban Development’s Section 232/223(a)(7) LEAN loan insurance program for the streamlined refinance of existing HUD-insured healthcare properties.
 
Christian Care Home was built in 2010 to replace the original older facility of the same name. The property is owned by Christian Woman’s Benevolent Association, a Missouri non-profit corporation that was founded in 1911 to organize efforts to care for impoverished mothers and their babies.

The refinancing will help the owners secure a lower interest rate and extend the loan back to its original 40-year term, generating more than $217,000 in annual debt service savings.
 
Last year, Cunningham and Hartman teamed to help refinance two loans totaling $11.6 million for Pillars of North County Health and Rehabilitation Center in Florissant and Westwood Hills Healthcare Center in Poplar Bluff.
 
For more information, contact Robyn Cunningham at (314) 512-7955 or Adrian Hartman at (314) 512-8736.

2014-02-04T16:26:18+00:00 Love Funding News|