HATBORO, Pa. — Capital Funding, a Baltimore-based lender, has provided a $16.1 million loan for Luther Woods Nursing and Rehabilitation Center in Hatboro, a small borough 15 miles north of Philadelphia.
The HUD financing refinances existing debt on the 140-bed skilled nursing facility. The borrower was not disclosed.
Capital Funding was the sole lender for the deal. Craig Casagrande, director of real estate finance, originated the mortgage.