News Real Estate March 14, 2023

Senior Housing Business: Lument Provides $15M HUD Refinancing for Alliance Health at West Acres in Brockton, Massachusetts

Lument today has provided a $15 million HUD Sec. 232/223(f) loan to refinance Alliance Health at West Acres, a 130-bed skilled nursing facility (SNF) in Brockton, approximately 20 miles south of Boston.

“This successful closing positions Alliance well, as it replaces recourse debt with nonrecourse, fixed-rate debt, and frees cash from a collateral reserve fund to help the nonprofit organization support its mission of providing exceptional personalized nursing and rehabilitation care.”
– Aaron Becker , Senior Managing Director and the Head of Seniors Housing and Healthcare Production