Lancaster Pollard Mortgage Company is keeping busy, having announced two transactions for senior care assets in the Midwest. First, Brad Competty, Casey Moore and Doug Harper closed a $42 million Fannie Mae loan with a 12-year term and fixed interest rate for a CCRC client. Mr. Competty and Brendan Healy followed that up with a HUD refinance for two senior care properties in Detroit, Michigan. Owned by Riverview Health, the properties getting refinanced include a 176-bed skilled nursing facility and a 196-bed SNF. Riverview was also reimbursed for prior capital expenditures and replacement reserves.
Finally, Lancaster Pollard arranged a bridge loan to fund the acquisition of a 125-bed skilled nursing facility in Aiken, South Carolina. The Place, a Georgia-based skilled nursing owner/operator, purchased the property to expand into the state. Conner Girdley led the transaction with an assist from Joe Munhall, both of whom worked with Allison Jones of Pinnacle Financial Partners to secure the financing.
