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Contemporary Healthcare Closes $1.2M Refinancing for 32-Unit Seniors Housing Community in Oregon

CORVALIS, ORE. — Contemporary Healthcare Capital (CHC) has arranged a $1.2 million mezzanine loan to refinance a 32-unit memory care community in Corvalis, approximately 80 miles south of Portland.

The borrower is Benicia Senior Living. Millennium Bank of Chattanooga provided the capital.

The combined loans totaling approximately $5.45 million will be used for a bridge-to-HUD loan for Conifer House. The 24,640-square-foot, single-story facility was originally constructed in 1989, with substantial renovations completed by the borrower in 2015.

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