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WINDHAM, Conn. — Contemporary Healthcare Capital has provided a $1.5 million mezzanine loan, part of a $6.2 million total acquisition financing for a skilled nursing facility in Windham.
Located approximately midway between Hartford and Providence, R.I., Douglas Manor features 90 licensed skilled nursing beds. The borrower, affiliates of Ryders Healthcare Management, is acquiring the property out of receivership.
The new owner plans to use the financing package to implement $1.6 million in capital improvements to the property.
The senior lender on the transaction was CoastalStates Bank.