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BALTIMORE — Capital Funding LLC has provided a $12.3 million HUD mortgage for Autumn Lake Healthcare at Alice Manor, a 105-bed skilled nursing facility in Baltimore.
The nursing home was part of a three-facility portfolio. The proceeds will be used toward repayment of “non-project” debt under HUD’s new debt seasoning guidelines.
The transaction also allowed the borrower to convert a short-term, non-agency loan into permanent, fixed-rate financing. The transaction was processed through HUD’s 223(f) Refinance program.
Tim Eberhardt and Erik Howard originated the loan.