Capital One Multifamily Finance has provided a $7.3 million fixed-rate, HUD 232/223(f) loan to refinance a 176-bed skilled nursing facility in Detroit.
Senior vice president Joshua Rosen originated the transaction. Rosen leads Capital One’s agency healthcare lending from the company’s Chicago office. This is the second HUD-insured project that the borrowers, specialists in skilled nursing facilities, have closed with Capital One.
The property consists of 90 one-, two-, and three-bed units, and the investors have undertaken a comprehensive renovation program since they acquired it in 2010.
