Lancaster Pollard Arranges Refi for Massachusetts Skilled Nursing Facility
- Jul 03, 2020
Lancaster Pollard Mortgage Co. has provided Oriol Health Care with $16.2 million via the FHA Sec. 232/223(f) program for the refinancing of Holden Rehabilitation and Skilled Nursing Center, a 123-bed skilled nursing facility in Holden, Mass. Oriol will use the proceeds to secure long-term permanent financing, consolidate debt and obtain reimbursement for capital expenditures, among others.
Aaron Becker, Lancaster Pollard’s head of production for the Seniors Housing and Healthcare division, worked together with Vice President Adam Walter in closing the transaction.
Situated on 5.3 acres at 32 Mayo Drive, the 65,699-square-foot facility provides long-term skilled care and short-term rehab services. Originally developed by Oriol in 1965 as Holden Nursing Home, the rehab center was recently expanded with the addition of the Wachusett Respiratory Care Unit, Oriol Home Health Care and Oriol Therapy Services.
Holden Rehab is less than a mile from the city center, just north of Bryant Pond. The immediate area holds various shopping and dining options located alongside Main Street.