LOS ANGELES—The owner of four nursing facilities in the Los Angeles market has secured $29.1 million in FHA loans to refinance the properties. The fixed-rate HUD 232/223(f) loans range in value from $6.2 million to $8.6 million, and will help to increase the revenue of the facilities.

“The 232/223 (f) loan program gives investors an unprecedented opportunity to increase revenue by locking in today's historic rates for decades to come,” explains Joshua Rosen, SVP at Capital One Bank. “As the population ages, we believe that there will be increasing interest in FHA financing for skilled nursing facilities,” Rosen says.  “We have assembled the expertise needed to meet this rising demand.”  Rosen, who is based in Chicago, secured the funds on behalf of the borrower. He was unavailable for further comment.

The four properties include a 98-bed facility and a 75-bed facility in the San Gabriel Valley, a 107-bed facility in Highland Park and a $97-bed facility in Alhambra. The San Gabriel facilities received an $8.6 million loan and a $6.6 million, for the smaller facility. The Highland Park facility secured $7.7 million, while the Alhambra facility received $6.2 million. The loans have 30- to 33-year terms, and all have an attractive loan to value. Rosen added that the loans are eligible for non-recourse and are fully assumable.

The medical office market in general has been healthy. Recently, CBRE experts said that hospitals have been buying on-campus medical facilities. The debt and structured finance team secured $29.7 million for medical office properties in San Diego, Los Angeles and Texas.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.