Healthcare facility operator CareRite Centers has landed a $75 million mortgage for 140 St. Edwards Street in Fort Greene, Brooklyn.
The property is the location for the Phoenix Rehabilitation and Nursing Center, an 11-story, 400-bed subacute and long-term care facility. Banco Popular North America is the lender for the new loan.
The mortgage replaces a $41.6 million loan from ACRC Lender LLC. Care Rite acquired the property in 2015 for $25.25 million, according to property records.
CareRite Centers is based in Englewood Cliffs, New Jersey. It operates rehabilitation and healthcare facilities in New York, New Jersey, Pennsylvania, Ohio, Florida and Tennessee. The firm has three locations in New York City: Phoenix Rehabilitation, The Riverside Premier Rehabilitation and Healing Center at 150 Riverside Drive and the Chateau at Brooklyn at 3457 Nostrand Avenue. It also has two facilities in Long Island, Westchester and Rockland County.