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Princeton Hospital - 150 beds
Orlando, Florida
$1,125,000 D-I-P, 1st Mortgage Loan
Collateral Description: 63 acres (32 acres, usable) with 140,000 square foot - 150 bed acute care hospital, located in Orlando, Florida.
Borrower Description: Borrower/Operator sought Chapter 11 bankruptcy protection to seek relief from operating deficiencies.
Loan-to-Value: 10% LTV on current 90-day “quick sale" minimum value of $11,400,000. 1998 tax appraisal equaled $16,800,000.
Status: Loan repaid in full after six months.
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