Lancaster Pollard Mortgage Company, a division of ORIX Real Estate Capital, recently assisted The Ridge Senior Living on two transactions through the Fannie Mae Senior Housing program. The two deals, totaling $49.1 million, will provide long-term financing for Ridge’s assisted living and memory care facilities, Foothill and Cottonwood, and provide cash out for the organization. Ross Holland, Doug Harper and Casey Moore led the transaction for Lancaster Pollard.
The firm also recently assisted Vaca Valley Living in refinancing their senior living community in Vacaville, CA. Constructed in 2018, the 50 unit property provides the local area with much needed access to resident memory care services. The $7.85 million FNMA transaction included an interest only feature and recapitalized existing debt while delivering equity out for the organization, which will strengthen their overall liquidity and expand their growth options. Grant Goodman, Doug Harper and Casey Moore led the transaction for Lancaster Pollard.
Get updates on the latest news impacting senior living through our Argentum Daily newsletter.