Hotel Conversion to Senior Care Facility
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Property Address:
Omaha, NE
Loan Amount
$3,400,000
Deal Summary
Balboa Capital Group structured a $3.4-million bridge-to-construction loan to finance the acquisition of a condemned Inn & Suites in Southwest Omaha. This bridge loan covered the purchase of the four-acre property, which had been vacant for five years, along with initial abatement and preparatory work. The former motel is slated for conversion into a senior living facility.