Harborview Capital Partners Closes Two Skilled Nursing Loans Totaling $30M

by Jeff Shaw

CORTLAND, N.Y., and WINFIELD, Ill. — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged two loans totaling $30 million for skilled nursing facilities near Syracuse, N.Y., and Chicago.

In the first transaction, Harborview arranged a $14 million loan for the acquisition of a 200-bed skilled nursing facility in Cortland, approximately 30 miles south of Syracuse. The borrower was a skilled nursing owner-operator based near New York City.

The loan features a 25-year amortization, 10-year term and floating rate above LIBOR. Harborview’s Jonathan Kutner, managing director and principal, and David Nussbaum, director of capital markets, originated and negotiated the loan.

In the second transaction, Harborview arranged a $16 million refinancing for a skilled nursing facility in Winfield, approximately 30 miles west of Chicago. The borrower was a Chicago-based owner-operator.

The loan features a 25-year amortization and five-year term. The capital will be used to pay off existing debt and provide cash-out proceeds to the borrower. Kutner originated the financing, which Harborview’s David Chiger negotiated.

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