Lancaster Pollard Closes $12.7M Bridge Loan for Seniors Housing Asset in Yuma, Arizona
YUMA, ARIZ. — Lancaster Pollard Mortgage Co.’s affiliate OREC Structured Finance Co. has arranged a $12.7 million bridge loan for River Valley Estates, a seniors housing community in Yuma.
The borrower is Mission Senior Living. The community features 56 assisted living units and 32 memory care beds.
The transaction refinances the existing debt on the facility and provides equity at initial closing with an earn-out to allow the client to extract additional cash upon achievement of performance metrics. The lender was not disclosed.
Rob McAdams led the transaction for Lancaster Pollard.