Love Funding secured financing for the Last Frontier’s newest assisted living community. Located in Anchorage’s U-Med district (and less than two miles from three hospitals), the community is being purpose-built by Baxter Senior Living as a high-end assisted living option for Alaskans. Along with 63 private AL and 33 private and semi-private memory care units, the private pay community will feature amenities including a theater, café and pub, fitness studio and art center, with Portland, Oregon-based Paradigm Senior Living as its manager.
Love Funding’s Holly Bray secured a $20.1 million bridge loan provided by Love’s parent company, Midland States Bank, with First National Bank Alaska also serving as a participant in the loan. The financing will allow construction to continue through the winter months, enabling a summer 2019 opening.