Globe St. Deal Wrap: Villa at the Lake

Love Funding has arranged the closing of a $6.5 million loan refinancing for Villa at the Lake, a 100-bed assisted living center here. First Vice President Robert Smallwood secured the loan through the US Department of Housing and Urban Development’s 232/223(f) loan program. Using the program enabled the property’s owner to generate nearly $50,000 in annual debt savings and pay off an 8% prepayment penalty through the sale of a Ginnie Mae mortgage-backed security and proceeds from the loan.

 Via Globe St.

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