CCN 155275 · Gibson County, Indiana
Waters of Princeton, the
1020 W Vine St, Princeton, IN 47670
Waters of Princeton, the is a 95-bed for-profit nursing home in Princeton, Indiana, first certified for Medicare or Medicaid in 1985. CMS rates it 1 out of 5 stars overall in its September 2026 data, and it averaged 62.7 residents a day, about 66% of its certified beds. It has an active FHA-insured Section 232 loan: $5.9 million originally, at 3.25%, with $4.8 million outstanding as of September 30, 2026 and maturity in May 2051.
Facility facts
- Certified beds
- 95
- Average residents per day
- 62.7 (66.0% of beds)
- Ownership type
- For profit - Limited Liability company
- Certification
- Medicare and Medicaid
- Legal business name
- Putnam County Hospital
- Certified since
- Nov 8, 1985
- Chain or affiliated group
- Infinity Healthcare Consulting (70 facilities, chain average 2.1 stars)
- Location
- Rural, inside a hospital
Ratings and staffing
Star ratings run from 1 to 5. Staffing is nurse hours per resident per day from CMS Payroll Based Journal data; turnover is the CMS annual nursing staff turnover rate. Occupancy is CMS's average daily census divided by certified beds.
| Measure | This facility | Indiana median | US median |
|---|---|---|---|
| Overall rating | 1 of 5 | State spread: 90 at 1, 99 at 2, 83 at 3, 113 at 4, 119 at 5 | |
| Health inspections | 1 of 5 | ||
| Quality measures | 4 of 5 | ||
| Staffing | 2 of 5 | ||
| Total nurse hours per resident per day | 3.37 | 3.55 | 3.68 |
| RN hours per resident per day | 0.64 | 0.60 | 0.58 |
| Weekend nurse hours per resident per day | 3.22 | ||
| Nursing staff turnover | 39.1% | 45.3% | 44.9% |
| Occupancy (residents / beds) | 66.0% | 78.6% | 85.7% |
| Fines reported by CMS | None | ||
| Health deficiencies, latest standard survey | 12 (Jan 16, 2026) | ||
HUD 223(f) Express Lane: the CMS part
HUD gives 223(f) applications queue priority when the facility has CMS overall and health inspection ratings of at least 2 stars and no abuse icon, among other tests (ORCF criteria of March 31, 2026). Waters of Princeton, the does not meet it today: overall rating 1, health inspection rating 1. The loan-to-value, coverage and operator tests depend on the deal. All the criteria.
Who owns and operates it
These are the owners and operators the facility reported to CMS: anyone with a 5% or greater direct or indirect stake, and any organization with operational or managerial control.
| Name | Role | Share | Since |
|---|---|---|---|
| Putnam County HospitalOrganization | Direct Ownership Interest | 100% | 09/01/2012 |
| County Hospital Manager LLCOrganization | Operational / Managerial Control | n/a | 09/01/2012 |
| Weatherford, DennisIndividual | Operational / Managerial Control | n/a | 09/01/2012 |
Changes of ownership
No change of ownership for this facility appears in the CMS change-of-ownership file, which starts in January 2016.
HUD Section 232 loans
HUD's Office of Healthcare Programs lists these FHA-insured loans for a project we matched to this facility by name, city and bed count. Status, rate and balance come from HUD's insured-mortgage files as of September 30, 2026. Check the FHA number against the loan documents before relying on the match.
| Endorsed | Program | Original amount | Status | FHA number |
|---|---|---|---|---|
| Apr 18, 2016 | 223(f) refinance or purchaseHUD project name: Infinity-The Waters of Princeton, 95 beds. Lender at endorsement: Capital One Mf Finance LLC | $5,920,000 | Active: 3.25%, $4,827,571 balanceMatures May 1, 2051. Servicer: Capital One NA | 07322273 |
Sources and dates
Facility, rating, staffing and ownership data: CMS Provider Information and CMS Ownership, processing date September 2026. Private equity, REIT and mortgage-interest flags and changes of ownership: CMS Skilled Nursing Facility All Owners and Change of Ownership files (2026-10-01). FHA-insured loans: HUD Office of Healthcare Programs endorsement database, data run July 8, 2026. How we join them, and what the join can get wrong: methodology.
SNF Register is independent. It is not affiliated with or endorsed by CMS, HUD or FHA. Spotted an error? Write to hello@hudskillednursing.loan.