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Entrepreneur - New Business
Investor needed for New Assisted Living Facility
Posted by:
Tracy Stocking
on 11/26/2011 10:30:23 PM
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Funding Needed
:
Above $1mil
Category:
Healthcare & Medical / Pharma
Website :
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Location :
Salt Lake City,
Utah,
USA
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Description:
54-bed Assisted Living Facility in Riverdale, Utah. We have $1 million in equity and are looking for $8,000,000 in construction and start-up capital for 3 - 5 years. Investor can take first postion. Returns after stabilization are 35%. This project is shovel ready - all A/E plans are complete, as are City entitltments. Project is HUD qualified. Market studies, complete executive summary, and financial projections are available to qualified investors only.
Another option for a smaller investment is to provide the additional equity for a HUD 232 LEAN loan. This would require up to $800,000 for 2 to 4 years. The HUD loan is 40 year non-recourse, but their qeue is currenlty 12 month.
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