Lancaster Pollard announces refinancing deals
Lancaster Pollard has assisted Summit Healthcare REIT with the refinancing of four facilities, the firm announced. The total loan amount was $55.1 million.
The first two transactions were for skilled nursing facilities Atlantic Shores Rehabilitation & Health Center in Millsboro, DE; and Pinnacle Rehabilitation & Health Center in Smyrna, DE.
The other two facilities are Applewood Retirement Community, a 69-unit independent living facility, and Gateway Care and Retirement Center, a 66-unit facility, both in Oregon. Both Applewood and Gateway are part of the Sapphire Health Services Community system.
Separately, Lancaster closed four transactions for Granite Investment Group totalling $29.3 million. Its facilities are Senior Care of Marlandwood West in Temple, TX; Senior Care of Regency House in San Angelo, TX; Senior Care of Windcrest in Windcrest, TX; and Senior Care of Wurzbach in San Antonio, TX. The transactions were through the FHA Sec. 232/223(f) program to refinance the SNFs.