APPLETON, Wis., and MOOSIC, Pa. — Pillar Financial, a division of SunTrust Bank, has arranged $20.8 million in HUD financing for Oakridge Gardens Nursing Center in Appleton and Oakwood Terrace in Moosic.
Oakridge Gardens features 143 beds of skilled nursing. The $13.6 million refinancing for the property features a 30-year term, 30-year amortization schedule.
Oakwood Terrace features 35 units of memory care. The $7.2 million loan features a 35-year term, 35-year amortization schedule and a fixed rate.
Don Husi arranged both loans from Pillar’s Nashville office.
Source: Seniors Housing Business