Artin Anvar of Love Funding Closes $7.24 Million Loan Refinancing for Sea Mar Community Care Center of Seattle


Sea Mar Community HealthLove Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of a $7.24 million loan refinancing for Sea Mar Community Care Center, a 100-bed skilled nursing facility in Seattle.
 
Love Funding Senior Director Artin Anvar of the Washington D.C. office secured the loan through the U.S. Department of Housing and Urban Development’s 232/223(a)(7) LEAN loan insurance program. Using the program enabled the borrower to lock in a low, fixed-rate, non-recourse loan for a 33-year term, generating more than $215,000 in annual debt service savings.

Sea Mar Community Health Center was established in 1977 as a nonprofit community organization, and began providing services as a community health center in 1978. Since then, the center has grown into a multi-service agency, offering health care, social services and other assistance throughout the state of Washington through a network of 23 medical clinics, 13 dental clinics, 3 residential drug and alcohol treatment centers, 18 out-patient mental health offices, and other outlets. In total, the organization now operates over 70 sites.
 
For more information, contact Artin Anvar at (202) 887-0435.

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