Lancaster Pollard Arranges $40.7M Refinancing for Skilled Nursing Facilities in New England

Waterbury Extended Care Facility in Watertown, Conn. Waterbury Extended Care Facility in Watertown, Conn.

AVON, Conn. — Lancaster Pollard has arranged six separate refinancings totaling $40.7 million for Apple Rehab, a skilled nursing provider based in the Hartford suburb of Avon.

The facilities refinanced are The Clipper Home in Westerly, R.I.; T.A. Coccomo Memorial in Meriden, Conn.; Hewitt Health & Rehabilitation Center in Shelton, Conn.; Plainville Health Care Center in Plainville, Conn.; Apple Rehab Colchester in Colchester, Conn.; and Waterbury Extended Care Facility in Watertown, Conn. The facilities total 517 skilled nursing beds.

Aaron Becker led the Lancaster Pollard team in arranging the six FHA-insured loans. Each loan has a 30-year term and fixed interest rate. The refinancing will allow Apple Rehab to lower its debt service and increase its replacement reserves.

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