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PAYSON, Ariz. — MidCap Financial has arranged a $4.5 million bridge-to-HUD loan to refinance Compass Senior Living’s Majestic Rim Retirement Living, located in the Phoenix suburb of Payson.
Majestic Rim is a 50-unit independent living facility built in 2006. Compass purchased the property in 2014 an underperforming asset.
MidCap’s bridge loan will refinance existing debt on the property.