Lument closed a refinance through HUD’s Express Lane for a 120-unit seniors housing community in Lincoln, Nebraska. Built in 2017, Pemberly Place Senior Living features 132 licensed beds and offers independent living, assisted living and memory care services. It also has an on-site medical clinic to offer a range of other healthcare services. The community is locally owned and operated, and it has a partnership with MJ Senior Living, a Nebraska-based management company.
In order for the owner to pay off existing bank debt from a construction loan originated by Lument several years ago, the firm secured a firm commitment from FHA on a $21.2 million loan just seven days after application submission. The loan has a fixed interest rate and 35-year term. Quintin Harris and Patrick Roan led the transaction for Lument, which also helped structure a shareholder note to reimburse the borrower for previous capital expenditures.
