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NorthStar Healthcare Income closes on $75 million mezzanine loan
By Toni Weeks
San Luis Obispo, Calif., July 2 – NorthStar Healthcare Income, Inc. said it closed an investment in a $75 million mezzanine loan on Wednesday, according to a press release.
Borrowings bear interest at a rate of one-month Libor plus 1,027 basis points. It matures in two years and has three one-year extension options available.
The loan was obtained in connection with the $940 million financing of a national portfolio of 167 skilled nursing facilities, the release said. The portfolio is managed by affiliates of Sava Senior Care.
Located in Greenwood Village, Colo., NorthStar Healthcare Income is a public, non-traded real estate investment trust.
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