Property Type: 80 Bed Alzheimer’s Facility Loan Amount: $6,200,000 Loan: Construction and Permanent Financing
Transaction Summary: A successful nursing home operator, with two facilities, wanted to expand into the assisted living market. Our assessment…he didn’t fully understand many of the critical strategic business issues, niche market opportunities, development issues, and financial options. New York Commercial Lending researched the long-term care market for niche opportunities, modeled the creation of a new Alzheimer’s facility and prepared an analysis detailing all the financing options. Results: NYCL assembled the development team and financed the loan with a 232 HUD loan. The loan was structured with a 40 year, fully amortizing non- recourse note.