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SOUTH TEXAS — VIUM Capital has provided a $17.1 million bridge-to-HUD loan for a skilled nursing facility in South Texas.
The transaction refinances existing debt, provides equity-out proceeds and covers transaction costs. The loan features a 60 percent loan-to-value ratio, partial recourse that disappears upon submission to HUD.
The borrower leased the property in 2017, exercised its purchase option in 2018, and continued to improve operating performance during COVID. Further details were not disclosed.