CRYSTAL LAKE, Ill. — Harborview Capital Partners, a New York-based finance firm, has arranged an $8 million refinancing for The Springs at Crystal Lake, a 97-bed skilled nursing facility in Crystal Lake, approximately 50 miles northwest of Chicago.
The borrower was Mark Weldler, an experienced operator in the Midwest. This is the third loan Harborview has closed for Weldler in the last 12 months.
Jonathan Kutner, managing director and principal at Harborview, originated the transaction. The loan was refinanced through HUD’s 232/223f program with a non-recourse interest rate fixed for 35 years.