September 18, 2017
NEW YORK–Hunt Mortgage Group, a leader in financing commercial real estate throughout the United States, announced today it has provided a $3.1 million FHA/HUD loan facility to refinance an assisted living facility located in Union City, Georgia.
Country Gardens is 50-bed assisted living facility with memory care services that was built in 2000. The property consists of a single building with 26,731 square feet contained in two stories. Common areas consist of lounge areas, an activity room, commercial kitchen, dining room, private dining room, and a library. The memory care units are fully secured to contain the safety of the memory care patients.
“The borrowers are seasoned investors specializing in senior living facilities that all have HUD experience,” noted Gabe Seghi, Vice President at Hunt Mortgage Group. “Country Gardens is a well-established and long standing assisted living facility serving the local market.”
Union City is located southwest of Atlanta and is considered to be part of the greater Atlanta, Georgia market.
Parking for the property consists of 27 spaces, including spaces available at the front of the facility for guests and employees. The facility contains two resident wings emanating from the central area. There are nine units (12 beds) located in the secured memory-care portion of the facility and the remaining 31 units (37 beds) are located on the first and second floor of the north wing and the second floor of the western wing.
“We were pleased to structure this loan facility for a quality sponsor to continue to offer much needed living services to adults that live in the area,” added Seghi.