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BUTLER, Pa. — RED Mortgage Capital, the mortgage banking arm of RED Capital Group, has closed an FHA 232/223(f) loan for the refinancing of Sunnyview Nursing and Rehab Center, a 220-bed skilled nursing facility in Butler, approximately 35 miles north of Pittsburgh.
Butler County previously owned the facility before Investment360 acquired it in 2014. Under the new ownership, care, census and financial metrics have all improved.
The non-recourse, FHA-insured loan refinanced the first mortgage acquisition debt as well as parts of the subordinate permanent debt.