JOHNSON CITY, SMYRNA and SHELBYVILLE, Tenn. — Capital One announced has provided three fixed-rate HUD loans totaling $27.2 million to Strawberry Fields REIT. The loans will refinance a portfolio of three skilled nursing facilities in Tennessee.
The three facilities are:
- Lakebridge, a Waters Community, a 109-bed facility in Johnson City with a current occupancy of 91 percent.
- The Waters of Smyrna, a 91-bed facility in Smyrna with a current occupancy of 86 percent.
- The Waters of Shelbyville, a 96-bed facility in Shelbyville with a current occupancy of 92 percent.
Lakebridge, a Waters Community received a $10.6 million loan, and the loans for The Waters of Smyrna and The Waters of Shelbyville were $8.4 million and $8.2 million, respectively. Johnson City is located in the Northeast corner of the state, while Smyrna and Shelbyville are both in the Nashville area.
The loans have a 35-year term. Capital One’s Joshua Rosen originated the transactions.