Lancaster Pollard showed its strength in agency funding, closing over $40 million in financing to help a couple of not-for-profit clients expand their services. First, in Osceola, Wisconsin, Brad Competty led the way in closing a $7.1 million HUD refinance on behalf of Christian Community Homes, a senior care provider in western Wisconsin (Minneapolis-St. Paul MSA). Originally built in 1981 as a skilled nursing facility, CCH expanded its Hudson, WI campus over the years to include senior apartments (opened in 1986), assisted living (1993) and memory care (2009). More recently, in 2011, the organization expanded on a new campus in Osceola with a 40-bed skilled nursing facility and a 20-bed assisted living community. The buildings are actually physically attached via an indoor corridor to the Osceola Medical Center, which includes a hospital and several clinics. Several years after refinancing with HUD on its Hudson campus, CCH now is refinancing the construction loan on the Osceola campus, with the help of Lancaster Pollard. The transaction also funded the initial deposit of $120,000 to replacement reserves and generated more than $96,000 in annual debt service savings.

Then, moving out west to Brush, Colorado, Lancaster’s Rob McAdams closed $34.7 million in financing from the USDA Direct Loan and Guaranteed Loan programs for a healthcare campus to significantly expand its services in northeastern Colorado. Already with 93 skilled nursing, 32 memory care, 93 assisted living and 30 independent living units, the campus is looking to both replace aged buildings and build new ones. Construction plans include a new 18-unit memory care community, a 54-unit assisted living building, two 28-bed skilled nursing facilities, a new physical therapy area and various physical plant upgrades. The financing arranged by Mr. McAdams allowed the not-for-profit organization to refinance its outstanding debt and fund the expansion, while boosting its liquidity as well.