EAST HAVEN, CT-Beech Street Capital said Friday that it had arranged a $7.9-million FHA 223(a)(7) loan to refinance Apple Rehab‘s Laurel Woods Health Care Center, a 120-bed skilled nursing facility here. The transaction was originated by Josh Rosen, a Chicago-based EVP who heads the seniors housing and healthcare practice at Beech Street.

The borrower had 21 years left on an existing $9-million FHA loan. Beech Street was able to secure an increase in the loan term to 33 years, producing a decrease in annual payments of more than $270,000 with what the company calls a very significant reduction in interest.

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