Cain Brothers Arranges $17.8M FHA Loan for Brooklyn Skilled Nursing Facility

by Jeff Shaw

NEW YORK — Cain Brothers Funding LLC, the mortgage banking affiliate of Cain Brothers, has arranged a $17.8 million mortgage loan for Saints Joachim and Anne Nursing & Rehabilitation Center, a 200-bed skilled nursing center in Brooklyn owned by Catholic Charities of Brooklyn and Queens.

The purpose of the FHA loan was to refinance existing commercial bank and tax-exempt bond indebtedness to a lower rate while maintaining flexibility for the borrower to repay the mortgage after one year. 

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