LAS VEGAS — Love Funding has arranged a $7.9 million bridge loan to build a new 46-bed memory care center in Las Vegas.
The new facility will be built adjacent to Welbrook Transitional Rehabilitation in the Centennial Hills neighborhood. The existing facility offers rehabilitation services and overnight care for those recovering from an injury, planned surgery or illness.
Leonard Lucas of Love’s Boston office obtained the bridge loan from Love Funding’s parent company, Midland States Bank. The bridge financing was needed because the timing of the FHA construction financing did not fit the borrower’s development timeframe.