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Lancaster Pollard Lines Up Refi on Twin Cities Senior Living
Lancaster Pollard Mortgage Company, a division of ORIX Real Estate Capital, recently closed a $25-million refinance for Chaska Heights Senior Living, a 138-unit assisted living (AL) and memory care (MC) community in the Twin Cities community of Chaska, MN.
Chaska Heights is managed by Tealwood Senior Living, a repeat client of Lancaster Pollard and longtime FHA borrower, which manages nearly 40 skilled nursing and AL communities in Minnesota and Wisconsin. Quintin Harris, who recently expanded his leadership role at Lancaster Pollard by taking charge of the Midwest team, led the transaction.
“We were able to significantly improve the fiscal outlook of our valued client by refinancing construction debt that carried a variable interest rate with non-recourse agency debt that features a fixed rate below 3%,” said Harris. “The benefits of FHA financing are ample in situations like this and Chaska Heights is now well-positioned for continued growth and success.”
Photo courtesy of Tealwood Senior Living.
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- ◦Financing
