LAMAR, COLO., MONTE VISTA, COLO., AND MYRTLE POINT, ORE. — Lancaster Pollard has arranged $9.5 million in FHA financing for Summit Healthcare REIT. The loans will refinance the acquisition loans on three skilled nursing facilities in the Western United States.
The three facilities are Juniper Village at Lamar, a 60-unit skilled facility in Lamar; Juniper Village at Monte Vista, a 58-unit facility in Monte Vista; and Myrtle Point Care Center in Myrtle Point, which features 28 units of skilled nursing and 18 units of assisted living.
Jason Dopoulos led the transaction for Lancaster Pollard. The financing, which has a 30-year term, lowered the fixed interest rate on the properties.
Summit is a public, non-traded company that recently transitioned from an industrial REIT to a healthcare REIT.