Beechwood Manor

Beechwood Manor

Beechwood Manor is a one-story, 60-bed assisted living facility in St. Clair Shores, Michigan. Using HUD’s 232/223(f) Refinance Program, AGM obtained a HUD-insured mortgage of $4,280,900 with a 35-year term. The complex was completely remodeled three years ago. The HUD financing repaid all outstanding debt including debt incurred for the prior renovations and funded $171,000 for replacement reserves.