COAL TOWNSHIP, Pa. — Lancaster Pollard has arranged a $16.8 million HUD-insured refinancing for Mountain View, a seniors housing community in the Central Pennsylvania town of Coal Township. The 271-bed skilled nursing facility also features eight independent living units.
The borrower, Complete Healthcare Resources, acquired the property in 2009 and has made many improvements, including the addition of a memory care wing and improving common areas and therapy spaces.
The refinancing via the FHA Sec. 232/223(f) program reduces overall debt service and puts in place a permanent debt structure with a fixed interest rate. In addition, it improves overall cash flow and provides funds for future improvements.
Tony Ruberg led the transaction for Lancaster Pollard.