Jim Swanson, President of Paragon Mortgage announced the closing on August 20th of $16,340,000 in financing for All Saints Healthcare, a 128-bed Skilled Nursing facility located in North Hollywood, California.

The permanent financing for All Saints Healthcare by Paragon Mortgage utilized the HUD LEAN 232/223(a)(7) refinance program, which resulted in a 35-year fully amortized mortgage and a reduction in monthly debt service.

"The refinancing of All Saints Healthcare is at an ideal time for a vital community health provider to recapitalize their debt at a much lower interest rate, while providing capital repair funding and improvements," stated Kim Taynton, Paragon's Senior Underwriter.

Property Details / Information

All Saints Healthcare is dedicated to the care and rehabilitation of pediatric and adult patients requiring 24-hour nursing and Respiratory Therapists care for complex medical conditions. With 128-licensed skilled nursing beds, All Saints Healthcare offers skilled nursing for those needing 24/7 support and care with a variety of therapies and care services utilizing skilled nurses, therapists and licensed care professionals.

About Paragon

Paragon Mortgage Corporation is an FHA, HUD MAP and LEAN approved mortgage lender solely focused on HUD-insured financing for over 33 years. Headquartered in Phoenix, Arizona, Paragon Mortgage is known for its highly experienced staff representing decades of originating, underwriting and processing of HUD/FHA loans. This experience combined with Paragon's long-standing reputation within the industry and relationships within the development and healthcare community has resulted in the closing of over $3B in FHA insured loans. Paragon Mortgage specializes in FHA Insurance loans for a variety of project types – Multi-Family Refinancing, Acquisition, New Construction, Substantial Rehabilitation in addition to Senior Housing and Healthcare.

For more information, visit: www.paragon-mortgage.com.