Love Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of a $6.47 million loan refinancing for Meadowview Nursing Center in Berlin, Pennsylvania.
Love Funding Midwest Regional Director Bruce Gerhart secured the financing through the U.S. Department of Housing and Urban Development’s 232/223(f) loan program. Though the property qualified for a fixed 35-year self-amortizing loan, the owner selected a 30-year amortization period due to the extremely low interest rate locked, thereby saving the property considerable interest costs over the term of the loan.

Meadowview Nursing is a three-story senior care facility that is licensed for 150 beds and contains 80 rooms. It also offers 11 independent living apartments. The property was designated as a continuing care retirement community (CCRC) in 2010 due to the presence of both skilled nursing and independent living in the same building.  It is the second skilled nursing facility Love Funding has refinanced for The Guardian Foundation, a non-profit holding company for skilled and other high acuity healthcare facilities.
The facility is managed by Complete HealthCare Resources, whose Eastern subsidiary provides full management services for 21 independent living, assisted living and continuing care retirement communities.
For more information, contact Bruce Gerhart.