{"id":1004082783,"date":"2013-08-28T06:05:40","date_gmt":"2013-08-28T14:05:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004082783"},"modified":"2022-12-08T13:00:31","modified_gmt":"2022-12-08T21:00:31","slug":"beech-street-closes-55m-in-fha-loans-for-indiana-skilled-nursing-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/beech-street-closes-55m-in-fha-loans-for-indiana-skilled-nursing-portfolio\/","title":{"rendered":"Beech Street Closes $55M in FHA Loans for Indiana Skilled Nursing Portfolio"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

\"The<\/a>

The Waters of Martinsville, Indianapolis<\/p><\/div>\n

Infinity Healthcare Management L.L.C. wanted to refinance an 808-bed portfolio of skilled nursing facilities in Indiana, and Beech Street Capital L.L.C. has made it happen with the closing of $55.3 million in FHA 232\/223(a)(7) loans.<\/p>\n

The collection of properties spans various areas of Indiana. Included are the suburban Cincinnati, Ohio, facilities Waters of Batesville in Batesville, the Waters of Dillsboro-Ross Manor in Dillsboro, and the Waters of Rising Sun in Rising Sun. An additional three properties are in metropolitan Indianapolis: the Waters of Greencastle in Greencastle; the Waters of Martinsville (pictured) in Martinsville; and the Waters of Indianapolis, located in Indianapolis proper. Rounding out the group are the Waters of Covington, sited 75 miles outside of Indianapolis, in Covington, and the Waters of Clifty Falls in Madison, located approximately 45 miles north of Louisville, Ky.<\/p>\n

The financing came in the form of fixed-rate loans featuring 30- or 25-year terms and what Beech Street describes as “very attractive rates.” Infinity wanted to refinance all eight of the skilled nursing facilities in one fell swoop and the company wanted to do it posthaste. Beech Street delivered, wrapping up the transactions in roughly 30 days after securing firm commitments.<\/p>\n

The commercial real estate lending community may still be partial to the apartment market, but the seniors sector is certainly far more than a blip on the radar.<\/p>\n

“For the lending institutions that understand the seniors sector, it is a niche product and is very attractive,” Joshua Rosen, Executive Vice President & Team Leader\u2014Healthcare, told Commercial Property Executive<\/i>.<\/p>\n

And healthcare reform-related changes are not expected to cool lenders’ reception to healthcare assets such as skilled nursing and assisted living properties.<\/p>\n

“There was a recent 2 percent Medicare sequester cut, but some reimbursement for Medicare\/Medicaid has improved lately, therefore the overall global effect has been pretty minimal,” Rosen added. “Overall, the reimbursement rates have not been a huge factor on whether lenders decide to provide a loan.”<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Infinity Healthcare Management wanted to refinance an 808-bed portfolio of skilled nursing facilities in Indiana, and Beech Street Capital has made it happen with the closing of $55.3 million in FHA 232\/223(a)(7) loans.<\/p>\n","protected":false},"author":969,"featured_media":1004082786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1583,1590,21783,21754,11,21742],"tags":[],"class_list":["post-1004082783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cincinnati","category-indianapolis","category-investment","category-medical-office","category-midatlantic","category-latest"],"acf":[],"yoast_head":"\nBeech Street Closes $55M in FHA Loans for Indiana Skilled Nursing Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/beech-street-closes-55m-in-fha-loans-for-indiana-skilled-nursing-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Beech Street Closes $55M in FHA Loans for Indiana Skilled Nursing Portfolio\" \/>\n<meta property=\"og:description\" content=\"Infinity Healthcare Management wanted to refinance an 808-bed portfolio of skilled nursing facilities in Indiana, and Beech Street Capital has made it happen with the closing of $55.3 million in FHA 232\/223(a)(7) loans.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/beech-street-closes-55m-in-fha-loans-for-indiana-skilled-nursing-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-08-28T14:05:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T21:00:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/08\/The-Waters-of-Martinsville.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"517\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/beech-street-closes-55m-in-fha-loans-for-indiana-skilled-nursing-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/beech-street-closes-55m-in-fha-loans-for-indiana-skilled-nursing-portfolio\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Beech Street Closes $55M in FHA Loans for Indiana Skilled Nursing Portfolio\",\"datePublished\":\"2013-08-28T14:05:40+00:00\",\"dateModified\":\"2022-12-08T21:00:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/beech-street-closes-55m-in-fha-loans-for-indiana-skilled-nursing-portfolio\\\/\"},\"wordCount\":354,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/beech-street-closes-55m-in-fha-loans-for-indiana-skilled-nursing-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/08\\\/The-Waters-of-Martinsville.jpg\",\"articleSection\":[\"Cincinnati\",\"Indianapolis\",\"Investment\",\"Medical Office\",\"Mid-Atlantic\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/beech-street-closes-55m-in-fha-loans-for-indiana-skilled-nursing-portfolio\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/beech-street-closes-55m-in-fha-loans-for-indiana-skilled-nursing-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/beech-street-closes-55m-in-fha-loans-for-indiana-skilled-nursing-portfolio\\\/\",\"name\":\"Beech Street Closes $55M in FHA Loans for Indiana Skilled Nursing Portfolio - 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