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Boston & New England  + New England  + Finance  | 
Lument has provided a $18.9 million refinance loan to The Guilford House in Guilford, CT.

Lument Closes $19M FHA Refi for Senior Housing, Care Community in Guilford

Lument has completed an $18.9 million U.S. Department of Housing and Urban Development /Federal Housing Administration Sec. 223(a)(7) refinance for The Guilford House, a 96-bed assisted living and skilled nursing facility in Guilford, CT.

The closing refinances a blended-rate loan from 2019 provided by Lument to fund an expansion of AL units and services. Aaron Becker of Lument led the transaction.

The $18.9 million FHA Sec. 223(a)(7) loan provided by Lument replaces existing debt with a reduced interest rate and mortgage insurance premium and provides approximately $110,000 in annual debt service savings. To ensure debt service savings were maximized, Lument obtained a 40-month term extension on the loan.

The Guilford House was acquired in 2002. A FHA loan in 2007 spurred the facility’s renewal and emergence as a 75-bed SNF specializing in short-term rehabilitation. In 2019, the FHA program was used again to fund the addition of 21 AL units to the existing building.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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