Lancaster Pollard Provides $5.2M Acquisition Financing for Skilled Nursing Facility in Atlanta

by Jeff Shaw

ATLANTA — Lancaster Pollard has provided $5.2 million in financing to partially fund the $6 million purchase of Reliable Health & Rehab at Lakewood in Atlanta.

Reliable Health & Rehab is a 100-unit skilled nursing facility that was owned by a partnership agreeing to sell only if the operator could remain in place.

The buyer, a father-son team looking to grow their portfolio, acquired the property for $6 million using a $5.2 million loan insured by the FHA Sec. 232/223(f) program in conjunction with a seller’s note.

The financing also provides funds for renovations to update the facility. The loan carries a 35-year term and fixed interest.

John Hink led the transaction for Lancaster Pollard.

You may also like