Commercial Loan News
STEELHEAD CAPITAL, INC. RAISES EQUITY FOR THE SALE-LEASEBACK OF LA COLINA CARE CENTER, A SKILLED NURSING FACILITY IN TUSCSON ARIZONA
San Francisco, CA - January 6, 2005
Commercial Acquisition Loan Summary:
Steelhead Capital, Inc. represented a family trust's interest in its $2 million acquisition of a sale-leaseback of a skilled nursing facility in Tucson AZ. The property sold above a 10% CAP rate and closed on January 6, 2005. The transaction was the fourth between the trust and Steelhead Capital.
The 120 bed facility is leased to a regional operator with over 40 facilities in the western states. The 18 yr old operator executed a 15 year bond net lease with annual increases. The operator has the right to re-purchase the property after 10 years at a pre-determined price which will reflect an IRR in excess of 20%.
A. Sean Aguilar, CCIM, provided the advisory services and was responsible for procuring the equity investors. The Sponsor is a Northern California based Real Estate Investment Company with over 25 years experience in the Senior Housing industry. Steelhead Capital provided due diligence, underwriting and tax analysis on behalf of the family trust.
Steelhead Capital is a premier provider of creative commercial loan financing solutions for commercial real estate investors. Steelhead Capital brings an extensive network of lending sources, structured finance experience with a focus on acquisitions, and a clear commitment to personalized customer service to investors financing properties in any of the 50 states. Steelhead Capital's offices are located in San Francisco, CA. Company information can be found at Steelhead Capital Commercial Loans.
Contact Information:
Steelhead Capital, Inc
415-397-2980 (phone)
415-397-2981 (fax)