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UES Rehab Nursing Home Receives $127M in Financing

The Upper East Side Nursing home received the largest single-asset financing ever insured by US HUD under the FHA 232 program.

UES Rehab & Nursing Ctr. Upper East Side Rehabilitation and Nursing Center, 211 E. 79th St.

NEW YORK CITY—The Upper East Side Rehabilitation and Nursing Center received $127 million in financing from KeyBank Real Estate Capital. The transaction is the largest single-asset financing ever insured by the US Department of Housing and Urban Development as part of the Federal Housing Administration 232 program.

The loan program helps to finance nursing homes, assisted living facilities, and board and care facilities. The FHA mortgage insurance provides the lender with protection against losses in the event of borrowers defaulting on their mortgage loans.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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