SCRANTON, Pa. — HJ Sims has provided $12.5 million in financing for PA-LTC, an affiliate of the Guardian Foundation. The loan will refinance some debt and fund renovations at Linwood Nursing and Rehabilitation Center, a skilled nursing facility in Scranton.
The refinancing portion of the finance package has a 30-year fixed interest rate of 5.25 percent, and replaces outstanding bond debt.
The renovation project will replace an outdated portion of the skilled nursing facility at a total project cost of $10.4 million. Genesis Eldercare operates the facility, which Guardian acquired in 1994.
Guardian Foundation owns and/or operates 36 nonprofit seniors housing communities in five states. The entity is a long-time client of HJ Sims.