Love Funding Closes $4.01 Million Loan Refinancing for Compass on the Bay in Boston

$4.01M Refinancing by Len LucasLove Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of a $4.01 million loan refinancing for Compass on the Bay, a Boston-based assisting living facility.
 
Love Funding Senior Director Leonard A. Lucas of the Boston office secured the loan through the U.S. Department of Housing and Urban Development’s 232/223(a)(7) loan program, which covers the refinancing of existing HUD-insured healthcare facilities. The program enabled the borrower to lock in a low, fixed interest rate, generating approximately $69,000 of annual debt service savings.

Compass on the Bay, which consists of 54 beds in 39 units, is a state-of-the-art memory support assisted living community offering research-based treatment programming for those with memory loss and Alzheimer’s disease. The facility is operated by Senior Living Residences, an industry leader in the creation of service-enriched housing and care options for seniors in New England.
 
For more information, contact Leonard Lucas.

Related Posts

Lutz Care & Rehabilitation Center January 11 111 2011
Village at West Point February 21 221 2011
Clock Tower Apartments January 11 111 2012
NuVista Care January 11 111 2012
Dealmaker of the Day March 8 308 2012
Dealmaker of the Day March 8 308 2012
Dealmaker of the Day March 8 308 2012
Dealmaker of the Day March 8 308 2012
Dealmaker of the Day March 8 308 2012
Dealmaker of the Day March 8 308 2012