LOVE FUNDING SECURES $10.1M CONSTRUCTION LOAN FOR SENIOR FACILITY

MANVEL, TEXAS — Love Funding has closed a $10.1 million construction-to-permanent loan for the development of Orchard Park of Pearland, an assisted living and memory care facility under development in Manvel. Joshua Hausfeld of Love Funding secured the 40-year loan through HUD's Section 232 LEAN program for new construction of healthcare facilities. The borrowers, McFarlin Group and Stroud Development, plan to open the facility in 2014.