Valley National Bank Provides $188 Million Refinance For Complete Care Nursing Facilities In Brick Township

The asset involved in the transaction is a nursing home located at 415 Jack Martin Boulevard, Brick Township. The property is part of a refinancing initiative that encompasses multiple Complete Care skilled nursing and long-term care facilities, utilizing a cross-collateralized structure. The total loan amount recorded for this property is $188,000,000. The financing is supported by both real estate and operating cash flows.

Summary of transaction details:

• Property Type: Nursing Home
• Transaction Amount: $188,000,000
• Lender: Valley National Bank
• Landlord: PropCo & OpCo
• Loan Type: Refinance

The transaction involves Valley National Bank and other lenders, reflecting a continued interest among investors in stable healthcare portfolios during a period of wider commercial real estate volatility. The refinancing is indicative of the ongoing demand for established nursing and long-term care facilities.