The Medical University Hospital Authority in Charleston, S.C., which owns and operates the Medical University of South Carolina Health, has closed on a $361.4 million loan modification.
Love Funding, a lender based in Washington, D.C., helped secure the loan through the U.S. Department of Housing and Urban Development's Section 242 loan insurance program. The transaction was the third-largest hospital loan in HUD's history.
MUSC Health, a 696-bed academic medical center, expects the transaction to reduce the interest rate on its existing mortgage by 38 percent.
Love Funding, a lender based in Washington, D.C., helped secure the loan through the U.S. Department of Housing and Urban Development's Section 242 loan insurance program. The transaction was the third-largest hospital loan in HUD's history.
MUSC Health, a 696-bed academic medical center, expects the transaction to reduce the interest rate on its existing mortgage by 38 percent.
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