Leumi Provides $13.6M Acquisition Loan for Seniors Housing Community in St. Charles, Mo.
ST. CHARLES, MO. — Bank Leumi USA has provided a $13.6 million loan to Chicago-based Innovative Management Associates Inc. for the acquisition of Windsor Estates of St. Charles, a continuing care retirement community (CCRC) in metro St. Louis. Windsor Estates is a 235-unit community operated by the borrower, In addition to the five-year, fixed-rate conventional mortgage, Leumi provided a $500,000 working capital line of credit and treasury management services. The line of credit is secured by the facility’s accounts receivables.