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PORTLAND, ORE. — Lument has provided a $14.7 million proprietary bridge loan to refinance Arcadia Senior Living, a 68-unit assisted living community in Portland.
Casey Moore, managing director with Lument in San Diego, led the transaction for Lument. The bridge loan refinances outstanding debt, provides earn-out proceeds and positions Arcadia for a future HUD refinancing.
Built in 2019, Avant Senior Housing & Consulting LLC operates the community. Arcadia is owned by a partnership whose principal, Kelvin Ng, represented the borrower in this transaction.