Lancaster Pollard Secures HUD Construction Debt
Jason Dopoulos of Lancaster Pollard secured construction financing through HUD on behalf of Sunshine Retirement Living to expand its presence in southern California. Already with two senior living communities in the San Diego area, the Oregon-based Sunshine, along with Welbrook Senior Living, is working on building its first in the Los Angeles MSA. The Fountain Valley community will feature 106 assisted living and 39 memory care units when it opens in 2020. Situated about 35 miles southeast of Los Angeles, it is also ideally located next to Fountain Valley Regional Hospital, which certainly adds to the property’s appeal. With its low interest rate, the $36 million HUD loan should help... Read More »
Alliance Moving Forward at Massachusetts SNF
The not-for-profit senior care operator, Alliance Health & Human Services, secured both a permanent refinance of its 101-bed skilled nursing facility in Braintree, Massachusetts, and a more stable financial future to further its mission there. The $14.2 million HUD loan, arranged by Aaron Becker of Lancaster Pollard, is the sixth overall closed in the relationship. It refinanced existing debt and reimbursed Alliance for prior capital expenditures. Alliance will now be able to file a Determination of Need with the state in order to invest another $3 million to renovate the facility. Under the program, the state would reimburse Alliance the renovation funds through a future increase in... Read More »
Lancaster Pollard Hits the Mark With Life Insurance Financing
Grant Goodman, Casey Moore and Doug Harper of Lancaster Pollard helped structure a life insurance refinance of two memory care communities owned by Agemark Corporation. Both located in Nebraska and totaling 75 units, the properties were encumbered with traditional bank debt. Looking to lock in their interest rate early in this rising rate environment, Agemark was introduced to Protective Life Insurance Company to obtain a 10-year, fixed-rate financing. This was the first transaction between the two but may not be the last. Read More »
Lancaster Pollard Provides Bridge Loan to Midwest Operator Medicalodges
The 100% employee-owned senior care operator Medicalodges, Inc. recently obtained short-term financing from Lancaster Pollard for three of its skilled nursing facilities in Kansas and Missouri. Bill Wilson of Lancaster Pollard and Joe Munhall of LP’s Debt Syndications group arranged a $7.6 million bridge loan with a 36-month term through First Bank that will provide for capital expenditures at the three facilities and the repurchase of employee stock ownership plans. Medicalodges expects to take the loan out with HUD debt after the seasoning period. Read More »Schedule a demo
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