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HOUMA, La. — Lancaster Pollard has closed an $11 million HUD refinancing for Chateau Terrebonne, a 198-bed skilled nursing in Houma, about 50 miles southwest of New Orleans.
The undisclosed owners, who purchased the property in 2010, sought to refinance existing debt as well as obtain funding for upcoming renovations.
The 35-year loan will generate approximately $150,000 in annual debt service savings as well as provide approximately $1.7 million for repairs and improvements to the facility.