Lancaster Pollard assists Methodist ElderCare
Lancaster Pollard has assisted Methodist ElderCare obtain funding for constructing a new continuing care retirement community in New Albany, OH.
Series 2015A and Series 2015B Bonds of $43,610,000 were privately placed with two regional banks, the firm said. The first 50% of entry fee receipts are earmarked and estimated to pay down the Series 2015B Bonds of $6,000,000 over a four-year period.
Wesley Woods will have detached villa-style cottages and retirement living apartments on close to 40 acres near a nature preserve.
Methodist ElderCare Services is an affiliate of the West Ohio Conference of the United Methodist Church.
The firm also announced the closing of a $4.5 million refinancing through FHA Sec. 232/2223(f) program for Evergreen Estates Retirement & Assisted Living Community in Clarkston, WA.