HFC is proud to announce the closing of a $12,750,000 term loan for The Inn at Fountain Park in Bryan, Ohio.
Premier Senior Living approached HFC with a request to refinance three HUD financed assisted living facilities. The purpose of the request was to generate enough capital for Premier to execute on purchase agreements for two other assisted living properties in upstate New York. The HUD loans carried low interest rates between $2.59%-2.64%.
After evaluating the portfolio, HFC recommended refinancing solely the Fountain Park property. This allowed Premier to obtain the capital they needed while maintaining the low interest rate debt on the other two communities, saving 480bps in interest expense, or $468,000 annually. This three year transaction carries a swapped fixed rate of 7.44%.
For more information about Premier Senior Living and the Inn at Fountain Park, please visit www.pslgroupllc.com