WENATCHEE, Wash. — Contemporary Healthcare Capital has provided a $2.4 million mezzanine loan to Regency Pacific Management.
The loan is part of an $8.4 million refinancing of a 55-bed skilled nursing facility in Wenatchee, located in the central area of Washington along the Columbia River. The name of the facility was not disclosed, but the only Wenatchee facility listed on Regency’s website is Regency Wenatchee Rehabilitation and Nursing Center.
CoastalStates Bank provided the senior loan portion of the uni-tranche loan. Proceeds were utilized to refinance the original construction loan provided by past Contemporary Healthcare Capital funds. The facility opened in April 2016.