G Capital Markets Arranges Refinancing for 65-Bed Community Facility in Plum City, Wisconsin

by Jeff Shaw

PLUM CITY, Wis. — G Capital Markets has arranged the permanent refinancing of a skilled nursing and assisted living facility in Plum City, a tiny village of fewer than 1,000 residents approximately 60 miles southeast of the Twin Cities.

The property was originally built in 1987 and renovated in 2005, with an assisted living expansion built in 2014. The community features 65 beds in 41 private and semi-private units, with a ratio of 70 percent skilled nursing to 30 percent assisted living. The community has performed strongly with occupancy consistently over 80 percent and a high debt service coverage of 2.5 times, according to G Capital Markets.

A 232/223(f) HUD takeout loan was funded to pay off the balance of a term loan portfolio credit facility previously structured by G Capital founder Grant Goodman. The borrower is an owner-operator based in Nevada that manages and invests in senior care properties in several states across the country.

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