Lancaster Pollard announces deals
Lancaster Pollard recently helped The Lutheran Care Network refinance a New York facility with a $12.3 million loan. The loan was insured by the FHA Sec. 232/223(f) program.
Lutheran Care Center at Concord Village, located in Poughkeepsie, NY, has 160 skilled nursing beds.
Lancaster Pollard also closed the $27.5 million sale of Northgate Terrace in California to WNC. Northgate Terrace is an 11-story Section 202 affordable seniors housing property with 180 efficiency units and 20 one-bedroom units. WNC, a real estate investor, said it will perform a complete renovation of the existing property at a total cost of $47 million, including the acquisition and renovation, the firm said.