On the same day that Tyler Armstrong of Greystone arranged a bank loan for LCS to refinance a 169-unit senior living community in Waco, Texas, he also secured a $40.387 Fannie Mae refinance for another LCS-owned community in League City, Texas (Houston MSA). Built in 2018 by LCS Development, The Delaney at South Shore features 204 units and nearly 205,000 square feet of independent living, assisted living and memory care.
Mr. Armstrong structured a fixed-rate, non-recourse loan with a 10-year term, 30-year amortization and five years of interest only.
