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Nursing Facilities Snatch $29M in FHA Loans

LOS ANGELES—The owner of four nursing facilities in the Los Angeles market refinances the properties, securing FHA loans ranging in value from $6.2 million to $8.6 million.

By Kelsi Maree Borland | Updated on January 30, 2015

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.

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