Beech Street Capital Closes $10.2 Million FHA Loan

Beech Street Capital LLC, a privately owned mortgage banking company, recently provided a $10.2 million HUD 232/223(f) loan to a 105-bed nursing facility in Parkersburg, W. Va.

Parkersburg, W. Va.—Beech Street Capital LLC, a privately owned mortgage banking company, recently provided a $10.2 million HUD 232/223(f) loan to a 105-bed nursing facility in Parkersburg, W. Va. The transaction was originated by Joshua Rosen, executive vice president of Beech Street capital.

Amenities for the property include 71 parking spaces, storage buildings and an outdoor courtyard.

The property, called Worthington Nursing and Rehabilitation center, has access to US 50 and Interstate 77, which provides access to neighboring communities, which features a mixture of single-family and multifamily housing.

“The borrowers purchased the facility six months prior to the HUD refinance,” Rosen says in a press statement. “The beech Street team seamlessly orchestrated the transition to the HUD takeout.”

The lender for the property was able to deliver a good interest rate and a 30-year fully amortizing loan.