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10.28.2008 12:05 PM
Love Funding's St. Louis Office Secures more than $6 Million in Financing for Three Health Care Facilities

St. Louis, Mo., October 28, 2008... Love Funding, a national mortgage-banking firm, today announced that its St. Louis office secured $6,398,600 in financing for three health care facilities in Colorado and South Dakota.  Vice President Robyn Cunningham and Vice Chairman Harry Cheatham secured the transactions.

Cunningham closed a $3,396,200 loan for the 56-unit Garden Square of Westlake Assisted Living Facility and a $1,025,500 loan for the 32-unit Garden Square of Greeley Assisted Living Facility. Both properties are located in Greeley, Colo. Cunnigham was able to secure financing for both loans through the HUD 232/223(f) program. She locked in a 6.38 percent fixed interest rate for Garden Square of Westlake and a 6.32 percent fixed interest rate for Garden Square of Greeley. Both deals include a 35-year amortization.

Cheatham secured $1,976,900 in financing for Wheatcrest Hills, a skilled nursing facility located in Britton, S.D. Love Funding was able to finance the deal through the HUD 232/223 (f) program and lock in a fixed interest rate of 6.4 percent with a 35-year amortization.

For more information, contact Robyn L. Cunningham at 314.512.7955 or Harry Cheatham at 314.512.7953, or visit www.lovefunding.com.

Love Funding is one of the Love Companies, an investment holding company with origins dating back to 1875. Love Funding commenced mortgage-banking operations in 1984 and serves clients across the United States from its offices in Atlanta, Boston, Chicago, Cleveland, Dallas, Detroit, Knoxville, New York, Palm Beach, St. Louis and Washington D.C. The company offers refinance, construction, and acquisition financing programs for multifamily, affordable housing, senior housing, healthcare, hospitality, office buildings, retail, light industrial, and special purpose properties. Love Funding's lending sources include CMBS firms, life companies, banks, credit companies, FNMA, FHLMC and FHA.

 

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