Lancaster Pollard Finances SNF Construction in California
Lancaster Pollard Mortgage Company, a division of ORIX Real Estate Capital, just closed on a HUD construction loan for a to-be-built skilled nursing facility in Oceanside, California. Featuring 120 beds in 62 units, the project is already underway by a partnership between RangeComm Development and Providence Group, along with the contractor ARCO Construction. It will specialize in short-term rehabilitation, and we imagine by the time the project opens, elective surgeries will be somewhat back to normal and drive much of this facility’s census. Despite delays and challenges related to COVID-19, Brett Murphy of Lancaster Pollard was able to lead the way on a $25 million HUD loan ($208,000... Read More »
Aaron Becker Will Lead Senior Care Production at ORIX
ORIX Real Estate Capital has announced that Aaron Becker will lead the combined company’s (including Lancaster Pollard, RED Capital Group and Hunt Real Estate Capital) production efforts for the Seniors Housing & Healthcare team. Based in the firm’s Philadelphia office, Mr. Becker will also lead the East Coast team that services senior living clients. In addition, Lancaster Pollard veterans Casey Moore, Doug Harper and Quintin Harris each expanded their leadership roles, with Moore and Harper leading the West and Harris leading the Midwest. Business is still getting done at the newly merged company, with Lancaster Pollard closing five HUD loans in the month of April for seniors... Read More »
Two Industry Veterans Launch New Finance Firm
Seniors housing industry veterans Kass Matt and Steve Kennedy, formerly of Lancaster Pollard, have launched a new finance venture, VIUM Capital. It probably wasn’t the timing they were picturing, but a new lender in the senior care world can only help right now. The company is an independent financial service firm that will be exclusively focused on providing capital to the seniors housing and healthcare sectors, offering HUD/GNMA financing, bridge loans, Fannie Mae/Freddie Mac loans (as a corresponding lender) and advisory services. The business is up and running across all product lines, and their bank partner will support VIUM’s bridge loan offering. Municipal advisory services for... Read More »
Lancaster Pollard’s Recent Fannie Mae Activity
Lancaster Pollard secured two Fannie Mae financings for senior living clients across the country. The first was an $11 million fixed-rate loan provided to a senior living community in Dover, Pennsylvania (York County). Featuring a mix of independent living, assisted living and memory care services, the one-story community has amenities such as gazebos, walking paths, a café and therapy suite offering occupational, physical and speech therapies. Miles Kingston, Doug Harper and Casey Moore led the transaction. Then, Messrs. Moore and Harper were joined by Grant Goodman to arrange a $7.2 million loan for a memory care community in Edmonds, Washington (Seattle MSA). Operated by Northwest Care... Read More »