Berkeley Point Capital recently completed three HUD 232/223(f) refinancings of three Ohio nursing homes for JAG Healthcare Group, Inc. of Rocky River, Ohio. The refinancings consisted of:
Burbank Parke Care Center, for $6 million, an 86-bed facility in Wayne County; Shelby Pointe, for $1.4 million, a 46-bed center in Richland County; and Galion Pointe, for $1 million, a 45-bed facility in Crawford County.
The $8.4 million in financings closed August 3, and was securitized with Ginnie Mae for 30- to 35-year fully amortizing terms at interest rates in the mid 3 percent range.
Frank Cassidy, vice president at Berkeley Point Capital, led the refinancings.