Love Funding Secures $9.67 Million Loan for Skilled Nursing Facility in Old Saybrook, Connecticut
Love Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of a $9.67 million loan refinancing for a 132-bed skilled nursing facility located in Old Saybrook, Connecticut. The transaction was secured by Love Funding Senior Director Leonard A. Lucas of the Boston office and Director Christopher Schilling of the New York office through the U.S. Department of Housing and Urban Development’s LEAN 232/223(f) loan insurance program. Using the program enabled the borrower to consolidate existing debt into a low, fixed interest rate for a term of 35 years, generating significant debt service savings. For more information, contact Leonard Lucas at (617) 638-0055.