MOUNT PLEASANT, S.C. — Lancaster Pollard has arranged a $24.7 million refinancing for Sandpiper, three-property seniors housing campus in the Charleston suburb of Mount Pleasant.
Sandpiper’s campus includes Sandpiper Village for independent living, Sandpiper Courtyard for assisted living and Sandpiper Rehab/Nursing for skilled nursing and rehabilitation. The properties combined total 286 units.
The HUD loan refinances existing bonds from 2007 and features a fixed interest rate. The financing also funded a replacement reserve of $1.1 million and will cover some repairs and improvements to the properties.
Jason Dopoulos and Ross Holland led the transaction for Lancaster Pollard.