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MANCHESTER, BEDFORD and NASHUA, N.H. — Greystone has provided $23.8 million in HUD-insured loans to refinance a trio of assisted living facilities in New Hampshire.
The borrower is The Courville Company, which owns the communities: Courville at Manchester in Manchester; Courville at Carlyle Place in Bedford; and Courville Nashua & Aynsley in Nashua.
Lisa Fischman, vice president in Greystone’s New York office, originated the interest rate reduction (IRR) transaction. The IRR reduces the interest rate on an existing HUD-insured loan, maintaining the existing maturity and loan amount.
“An IRR is a good option for mortgagors who have held their asset since before rates dropped earlier this year,” says Fischman.