Lancaster Pollard Arranges $15.3M Bridge Financing for Assisted Living Community in Portland, Maine

PORTLAND, MAINE — Lancaster Pollard has arranged $15.3 million in bridge financing for Portland Center for Assisted Living, an 85-unit assisted living and memory care community in Portland. The borrower is First Atlantic Healthcare Corp., which sought to refinance existing debt. The financing will also fund repairs and reserves for the property, which was built in 1964. Aaron Becker led the transaction for Lancaster Pollard.