The loan terms included an interest-only construction period followed by a 40-year fully amortizing loan
, with a debt service coverage ratio of 1.
CCP purchased the assets for approximately USD 190m and made a USD 20m five-year, fully amortizing loan
to SCC, resulting in a total transaction value of USD 210m.
Care Capital Properties Inc (NYSE:CCP) disclosed on Wednesday that it acquired eight skilled nursing facilities and one assisted living facility in Shreveport, Louisiana, for about USD190m and a USD20m five-year, fully amortizing loan
to Senior Care Centers LLC (SCC), resulting in a total transaction value of USD210m.
After taking financing requests to Newmark's correspondents, as well as direct lenders, Lincoln Financial Group, Philadelphia, had the lowest rate and met the borrower's preference for a 25-year, fully amortizing loan
, Berg said.
The "A" piece is a $4,961,376 30-year, fully amortizing loan
that carries a fixed-note rate of 6.
The 35-year, fully amortizing loan
is secured by CreekBridge Apartments, a 220-unit apartment complex in Salinas, Calif.
Working on behalf of EPI Limited Partnership (headed by Ed Evans), HFF placed the 20-year, fixed-rate, fully amortizing loan
with Lincoln Financial Group in less than 30 days.
In laymen's terms, "non-traditional" has come to mean any mortgage loan product that is not a 30-year or 15-year fixed-rate, fully amortizing loan
with full documentation and a 10 percent to 20 percent borrower down payment.
The fully amortizing loan
is scheduled to mature in November 2012.
Under the agreement, CCP acquired the assets for USD190m plus a USD20m five-year, fully amortizing loan
to SCC, resulting in a total transaction value of USD210m.
HFF worked exclusively on behalf of Regency Residential Partners, LLC ( Regency ) to secure the 25-year, fully amortizing loan
at a fixed-rate of 4.
The 25-year, fully amortizing loan
is being financed at the rate of 7.