Live Breaking News & Updates on Hubbard Hill Retirement Community In Elkhart

Indiana Senior Community Lands $24M HUD Loan
The 220-unit property in Elkhart, Ind., offers independent living, assisted living, memory care and rehabilitation services.
Feb102021
Image courtesy of Greystone
The non-for-profit Hubbard Hill Retirement Community in Elkhart, Ind., has received a $23.9 million in HUD-insured refinancing, provided by Greystone. The recently expanded 220-unit property offers independent and assisted living, long-term skilled nursing and short-term rehab, as well as memory care services to seniors 55 and over.
The section 223(a)(7) loan has a 30-year amortization period with a low fixed-rate interest rate. The note retires a previous HUD loan and a higher-rate construction loan that backed a recent expansion plan. With the new debt in place, the property is expected to save an annual $280,000. ....

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