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LOS ANGELES — Paragon Mortgage has funded $16.3 million in financing for All Saints Healthcare, a 128-bed skilled nursing facility located in the North Hollywood neighborhood of Los Angeles.
The permanent financing utilized the HUD LEAN 232/223(a)(7) refinance program, which resulted in a 35-year, fully amortized mortgage and a reduction in monthly debt service.
“The refinancing of All Saints Healthcare is at an ideal time for a vital community health provider to recapitalize their debt at a much lower interest rate, while providing capital repair funding and improvements,” says Kim Taynton, Paragon’s senior underwriter.