Lancaster Pollard closes four financing projects

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Lancaster Pollard, a provider of financing solutions for healthcare, senior living and housing organizations in Columbus, OH, recently closed the following deals in July:

  • A $6.58 million fixed-rate, tax-exempt revenue bonds Christian Care Retirement Community, a continuing care retirement community in Bluffton, IN. The facility has 38 independent living villas, 42 independent and assisted living apartments and 66 skilled nursing beds.
  • Loans for two separate properties: $4.7 million for Grand Meadows in Glencoe, MN, and $3.3 million for Gardens at Cherokee in Cherokee, IA. Grand Meadows is a 65-unit assisted living facility operated by Progressive Care LLC, and the Gardens is a 38-unit assisted living facility operated by VL Cherokee LLC. 
  • Refinancing of a $3.6 million of existing debt for Saint Anne Nursing and Rehabilitation Center, a 47-bed skilled nursing facility in Seattle. 
  • Lastly, Lancaster Pollard assisted Greencroft Communities — the largest nonprofit senior living provider in Indiana — with the financing of one of its properties, Oak Grove Christian Retirement Village. Oak Grove has 39 assisted living units and 59 skilled nursing beds and is located in Demotte, IN.