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Chicago & Midwest  + Midwest  + Senior Housing  | 

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.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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