HFC is proud to announce the closing of a $13,200,000 permanent loan for the refinancing of Runk and Pratt of Forest. Runk & Pratt of Forest is a 76 bed assisted living facility, adjacent to Lynchburg in Bedford County, Virginia that specializes in the care of elderly residents with Alzheimer’s disease or other memory impairments. The financing was executed through the HUD 232 loan guarantee program.
This non-recourse loan bears interest at a fixed rate of 4% with a 35 year amortization. HFC acted as advisor to the borrower in order to expedite the closing of the transaction which occurred on February 5, 2016. For more information about the Borrower, Runk & Pratt Senior Communities, visit http://www.runkandpratt.com.