Eagle Group Finance provided a $3.1 million loan to Vista del Sol Propco, LLC to finance the purchase of an assisted living facility. The one-year, non-recourse loan will aid in filling a need in Culver City, which faces a shortage of assisted living facilities. In recent years, the property has suffered from absentee management, but it is well-located and has the potential to bring in $1.2 million in yearly net income.
The exit is a Housing and Urban Development loan, which the borrower has successfully accomplished for similar properties. Dov Jacobs, Manager of Vista del Sol Propco, is an experienced healthcare executive and nursing facility operator who has increased census and profit margins in every facility he has managed and owned.