Berkeley Point Capital Provides $8.4M HUD Refinancing for Three Nursing Homes in Ohio

Burbank Parke Care Center Burbank Parke Care Center

ROCKY RIVER, Ohio — Berkeley Point Capital has completed three HUD 232/223(f) refinancings for JAG Healthcare Group Inc. The Rocky River-based company will use the loans toward three skilled nursing facilities in Ohio:

  • Burbank Parke Care Center ($6 million), an 86-bed facility in Wayne County
  • Shelby Pointe ($1.4 million), a 46-bed facility in Richland County
  • Galion Pointe ($1 million), a 45-bed facility in Crawford County

The loans are securitized with Ginnie Mae for 30- to 35-year fully amortizing terms at interest rates in the mid 3 percent range.

Frank Cassidy of Berkeley Point Capital led the refinancing out of the company’s Philadelphia office.

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