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ASHLAND, ORE. — Contemporary Healthcare Capital LLC (CHC) and Community & Southern Bank (CSB) have jointly provided a $10.5 million loan for the acquisition of a seniors housing community in Ashland, near the California border.
The unnamed community is a 95-unit assisted living and memory care facility. Proceeds of the loan will be used to fund the acquisition along with $575,000 in renovations.
This is the first joint loan from CHC and CSB since the two companies announced the strategic partnership in May.