Lancaster Pollard has arranged financing for an Ohio assisted living facility for its expansion and for an Ohio continuing care retirement community.
Oakleaf Village in Sylvania, OH, has 145 assisted living units and is owned by The Wallick Companies. The $5.6 million low-interest rate, 40-year loan, insured by the FHA Sec. 232/241(a) program, will let it create a section called The Grove with 40 memory care units.
The second loan, which is for $3.5 million, involved Mason Christian Village, a CCRC owned and operated by the Christian Benevolent Association. The community, located in Mason, wanted to add an expansion wing with 20 new private occupancy skilled nursing units. Lancaster Pollard recommended using the FHA Sec. 232/241(a) program to finance the expansion project.
This article originally appeared on McKnight's