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Refinance of Six Assisted Living Facilities
MIG arranged a $6.8M loan for three senior living properties, meeting the owners’ first debt financing need.
Overview
The owners, with over two decades of experience in the senior living industry, progressively acquired these six Kansas communities. They requested to leverage only three of the six assets with new debt, keeping the remainder of their portfolio unencumbered. These facilities, built over 20 years ago, mainly serve Medicaid waiver residents.
Results
MIG successfully facilitated financing through one of its regional Kansas banking partners. A $6.8 million loan was secured against the three chosen properties, with an attractive interest rate and a 20-year amortization schedule.
Conclusion
Despite their extensive 20+ year history in the sector, this marked the owners' first engagement with a debt broker. MIG adeptly met their specific financing needs, connecting them with a supportive lending partner, which showcases our ability to customize solutions to fit the unique requirements of our clients.
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