Dwight Capital is pleased to announce the closing of $13+ million in bridge financing on a three SNF Portfolio (270 beds) located across Tennessee. The facilities – Brookhaven Manor, Countryside Healthcare and Rehabilitation, and Huntsville Manor – are located in Kingsport, Lawrenceburg, and Huntsville, respectively, and offer both long and short term 24-hour nursing care. Dwight financed $12,318,000 in bridge acquisition financing as well as an additional $855,000 in mezzanine financing, representing a combined total of 90%+ of the purchase price.
Dwight Capital also recently financed several other facilities, including:
A $3,300,000 bridge loan on Windsor Health and Rehabilitation Center, a 108-bed skilled nursing facility located in Windsor, CT. The loan equates to 90%+ of the purchase price.
$4,016,000 in bridge financing for Beehive Homes of West Jordan, a 50-bed assisted living facility located fifteen minutes south of Salt Lake City. The loan allowed the borrower to pay off approximately $3.2 million in existing debt.
$1,870,000 in bridge financing on Forest View Center an 87-bed skilled facility in Dayton, OH. The acquisition price was $1,800,000 and owner had a $500,000 renovation budget, which equates to an 81% loan-to-cost.