Love Funding Secures $46.3 Million in Refinancing for Portfolio of Skilled Nursing Facilities in Ohio


Love Funding, one of the nation’s leading providers of FHA multifamily, affordable and healthcare financing, announced the closing of six loans totaling $46.3 million for the refinancing of a portfolio of skilled nursing facilities in Ohio. Senior Director Robert Smallwood of Love Funding’s Cleveland office secured the loans through the U.S. Department of Housing and Urban Development’s LEAN 232/223(f) loan insurance program. The non-recourse nature of the program enables borrowers to obtain low-rate financing for up to 35 years for the purchase or refinance of existing long-term healthcare facilities. Smallwood and Love Funding processed the six loan transactions under a master lease that also included another property previously refinanced in 2014. The six properties refinanced this time around have a total of 430 units and were constructed between 1951 and 2006. For more information, contact Robert Smallwood at (216) 583-0791.

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