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Central IL SNF Loan
MIG refinanced a 70-bed IL SNF, delivering 3.4x prior senior leverage and majority cash-out to owners.
Overview
MIG was engaged to arrange debt financing for a repeat client with a strong presence in Illinois. The client acquired this 70-bed Illinois skilled nursing facility in 2021 and faced an upcoming loan maturity with its existing lender. Following significant operational and property improvements, the client sought a cash-out refinance and turned to MIG - knowing the team understood the nature of the request and could execute a thorough, competitive process.
Results
This debt arrangement led by MIG generated interest from many regional lenders in Illinois. The selected lender was able to deliver a refinance that resulted in 3.40x prior senior leverage, with 65%+ of the funds designated as cash-out to owners at a competitive interest rate.
Conclusion
This case study further demonstrates MIG’s deep credit expertise and strong regional lending relationships across the brokerage’s five focus states.
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