The Lodge of Warner Robins in Warner Robins, GA, received a $9.4 million loan through FHA Sec. 232/223(f) program, Lancaster Pollard Mortgage Company announced.
Lancaster Pollard, a division of ORIX Real Estate Capital, said the 106-bed facility wanted to retire its underlying debt from a construction loan.
The funding will allow it to proceed with a courtyard facility renovation, the firm said.
Lancaster Pollard also announced in a construction loan for Avanti Senior Living in Cypress, TX, where one of the communities has 40 memory care units. The $14.6 million transaction was through the Fannie Mae Seniors Housing program. Avanti and an affiliate of Iron Point Partners developed the community in 2015.
“Lancaster Pollard met our expectation with the execution of the refinance with Fannie Mae for Towne Lake,” said Lori Alford, COO of Avanti. “The teamwork approach made the transaction seamless and we are pleased with the pricing and structure that Lancaster Pollard helped achieve to replace Towne Lake’s construction loan.”
