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Winchester And Woburn Nursing Facilities Receive $18M In Financing

Jan 18, 2013 | Reprints | Unlock Link | Print

Fantini & Gorga has arranged $18.4 million in permanent financing for the 121-bed Winchester Nursing and Rehabilitation Center, and the 140-bed Woburn Rehabilitation and Nursing Center.

"We were delighted to be able lock in today’s incredibly low rates for the next generation," Tim O’Donnell, principal of Fantini & Gorga, said in a statement. "The long-term, fixed-rate, non-recourse financing gives the facilities’ operations stability for years to come."

The loan was placed with Eastern Mortgage Capital, a national MAP Lender for which Fantini & Gorga serves as loan correspondent. Both transactions used Section 232/223(a)7 mortgage insurance provided by the Federal Housing Administration (FHA). The company is a MAP lender for multifamily properties and a LEAN lender for health care properties.

Commercial & Industrial