$12.9M Healthcare Facility Closes With Liberty SBA 504 LoanOctober 15, 2018
A skilled nursing home in Tucson, AZ, recently closed with the help of $12.9 million in financing from Liberty SBF. Liberty provided both the $8 million SBA 504 first loan and a $4.9 million interim loan to allow the transaction to proceed while the CDC portion of SBA 504 loan is being completed. Sapphire of Tucson Nursing & Rehab is the area’s only privately owned skilled nursing facility.
Originally built in 1983, The Property is located in Southwest Tucson, six miles southeast of downtown Tucson and four miles north of the Tucson International Airport. A strong network of regional hospitals is located within 10 miles of the Property, including Banner University Medical Center, a 227-licensed bed comprehensive medical center located 500 feet away. In addition, the Property is located five miles northwest of the Davis-Monthan Air Force Base. Except for the Arizona State Veteran Home-Tucson (120-beds), the subject is the only skilled nursing facility within the southern Tuscan market and benefits from demand generated by the families of Air Force Base Personnel and of businesses that support the Base.
The owners have over 20+ years of experience in long term care facilities. As of June 2018, they own six facilities, with a total value of $97.1MM.
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