Inner Circle Capital Advisors successfully arranged financing for the refinance of an assisted living facility in Savannah, GA. The borrower was seeking to refinance existing hard money debt on a property that had not yet reached stabilization and was operating below break-even cash flow.
Despite the operational challenges, the financing structure provided the sponsor with additional runway to execute their business plan, improve occupancy, and stabilize operations without near-term balloon pressure.
The financing structure provided flexible terms, including an initial interest-only period, helping improve near-term debt service coverage and operational flexibility as the ownership group executes its turnaround strategy. With a no-prepayment penalty structure, the borrower can cash-out refinance once the property is fully stabilized without additional fees.
Capital Advisor: Jaideep Chadha
