Lancaster Pollard Provides $10.4M Refinancing for Two Communities near Seattle

PORT TOWNSEND and BUCKLEY, WASH. — Lancaster Pollard has secured two HUD loans totaling $10.4 million to refinance San Juan Villa, a 32-bed memory care community in Port Townsend, and Heritage House, a 76-unit assisted living and memory care community in Buckley.

Both towns are suburbs of Seattle. Oregon-based operator Caring Places Management manages both communities.

Each loan is nonrecourse and features a 35-year term. The loans will provide annual debt service savings and fund replacement reserves for ongoing repairs at each property.

Matt Lindsay led the transactions for Lancaster Pollard.