The transactions keep on coming from Lancaster Pollard. After being revealed last month as the top HUD LEAN lender once again (with 79 transactions and nearly $770 million in volume during HUD’s fiscal year 2017), the firm has closed another two transactions on behalf of California-based borrowers. First, for Summit Healthcare REIT, Jason Dopoulos of LP refinanced four senior care facilities for a total loan amount of $55.1 million. The portfolio features a 181-bed skilled nursing facility in Millsboro, Delaware, a 151-bed SNF in Smyrna, DE, a 69-unit independent living community in Salem, Oregon, and a 66-unit IL/assisted living/skilled nursing facility in Portland, OR. The latter two properties are operated by Oregon-based Sapphire Health Services.
Mr. Dopoulos then closed another four transactions, totaling $29.3 million, for Granite Investment Group, after previously arranged 13 other transactions on behalf of Granite back in May and June of this year. The four skilled nursing facilities being refinanced are all located in Texas, in the towns of Temple (104 beds), San Angelo (120 beds), Windcrest (180 beds) and San Antonio (140 beds). Lancaster Pollard has clearly had a fast start to HUD’s FY2018.
