Lancaster Pollard Provides Bridge Loan to Midwest Operator Medicalodges

The 100% employee-owned senior care operator Medicalodges, Inc. recently obtained short-term financing from Lancaster Pollard for three of its skilled nursing facilities in Kansas and Missouri.

Bill Wilson of Lancaster Pollard and Joe Munhall of LP’s Debt Syndications group arranged a $7.6 million bridge loan with a 36-month term through First Bank that will provide for capital expenditures at the three facilities and the repurchase of employee stock ownership plans. Medicalodges expects to take the loan out with HUD debt after the seasoning period.

 

 

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