In the midst of tragedy are stories of people who defied the odds surviving lengthy hospital stays and fighting the virus despite age or other medical conditions.
Schneider
Roach
M&T Realty Capital Corporation announced that it last fall secured a refinancing loan for the
St. Anne Nursing & Rehabilitation Center, in the Meadowbrook neighborhood in North Seattle. The approximately $3.1 million was secured via the national mortgage insurance program (Section 232) of the U.S. Department of Housing and Urban Development. The non-recourse loan carries a fixed rate of 2.68%, with a fully amortizing loan term. The funding was secured by
Madeleine Roach and
Jim Schneider; the latter said in a statement, “We are thrilled to see this product work so well locally. We will see many more HUD-insured seniors housing and market-rate multifamily debt being placed in Seattle. Said Roach, “We initiated this transaction shortly after COVID-19 broke out in Kirkland, and had concerns about the risks associated with the pandemic. Our team worked closely with HUD and with the borrower to design strong mitigants to the perceived risks.” The 47-bed fac