Love Funding Secures $8.7 Million Loan Refinancing for Skilled Nursing Facility in Los Angeles


Country-Villa-RehabLove Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of an $8.7 million loan refinancing for Country Villa Rehabilitation Center, a skilled nursing facility in Los Angeles.
 
Love Funding Senior Director Leonard A. Lucas of the Boston office, together with Citra Capital Management LLC, secured the loan through the U.S. Department of Housing and Urban Development’s Section 232/223(f) LEAN loan program for long-term care facilities. The loan refinanced existing debt with a low interest rate that is fixed for 26 years. The refinancing provided enough additional proceeds to fund repairs and property improvements.

The facility, which has 180 beds, is part of the Country Villa Health Services network. Country Villa Health Services is a family-owned and operated company that began operations in 1969 and has since grown from one assisted living center to one of the largest skilled nursing providers in California.
 
For more information, contact Leonard Lucas at (617) 638-0055.

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