Lancaster Pollard Mortgage Company, a division of ORIX Real Estate Capital, worked on behalf of a long-time client of theirs to refinance two senior living properties in Michigan. The borrower, The Brook Retirement Communities, obtained a $16 million loan through Fannie Mae’s Seniors Housing program, which provided a 12-year term, a low fixed interest rate and cash-out proceeds.
Both of the communities being refinanced feature 62 units of independent living and assisted living. Brad Competty, Brendan Healy and Doug Harper led the transactions for Lancaster Pollard.
