Leonard Lucas of Love Funding closed a $10.5 million bridge-to-HUD construction loan for a transitional rehab facility in Yuma, Arizona. The new facility will have 32,000 square feet and 41 private rooms. It will be 100% Medicare and managed care with no Medicaid patients. The bridge loan was placed with Love Funding’s parent company, Midland […]
Ken Charbauski of Love Funding secured a HUD refinance for a 42-unit assisted living/memory care community in Lexington, North Carolina. This community, which features both private and shared units, is part of the state’s Medicaid home- and community-based services waiver program. Its family owner, Southland Real Estate, successfully refinanced its previous floating-rate debt with the […]
Love Funding secured financing for the Last Frontier’s newest assisted living community. Located in Anchorage’s U-Med district (and less than two miles from three hospitals), the community is being purpose-built by Baxter Senior Living as a high-end assisted living option for Alaskans. Along with 63 private AL and 33 private and semi-private memory care units, […]
Love Funding and a family-owned care provider continued their successful partnership together, with Love helping the business refinance their assisted living community in Toms River, New Jersey. With 35 years of experience developing and operating senior care communities in New Jersey, the family has worked with Love for some 15 years. It opened its 79-unit […]
James Vanar of Love Funding arranged a $6.8 million bridge loan for a new assisted living/memory care development in South Jordan, Utah. Giza Development leads the team, including Stout Construction and Primera Group, developing the 62-bed community, which will be operated by SAL Management Group. Midland States Bank, the parent company of Love, provided what […]
A new independent living community is being developed in Carrollton, Texas, with the help of a $26.3 million HUD construction loan arranged by the team at Love Funding. Sitting on 5.5 acres in the Dallas-Fort Worth area, this community will feature 183 apartments and five stand-alone cottages, as well as a clubhouse and other amenities. […]
A new 62-bed assisted living/memory care community is being developed in Ogden, Utah with the help of a $6.63 million bridge construction loan arranged by James Vanar of Love Funding. The loan, which was provided by Love’s parent company Midland States Bank, is expected to be taken out in three years by a HUD refinance. […]
There has been an uptick in seniors housing and care construction in the Phoenix area in just this year. First, Mainstreet announced its first development in the state of Arizona, breaking ground in mid-February on its 94-bed skilled nursing/assisted living facility at a cost of $21.9 million, or $233,000 per bed. The facility also is […]
A skilled nursing/assisted living facility in Ferguson, Missouri recently refinanced with the help of Washington D.C.-based lender, Love Funding. The facility is owned by Christian Woman’s Benevolent Associates, a not-for-profit founded in 1911 at first to care for impoverished mothers, then expanding the provide care for all those in need. The facility, which includes 150 […]
A brand new supportive living facility is set to go up on a 2.5-acre lot in an urban neighborhood around six miles from downtown Chicago. All 120 studio and one-bedroom units will be backed by Illinois’s Supportive Living Program, which is an apartment-style alternative to skilled nursing care for low-income seniors and those with disabilities […]