ROCHESTER, N.Y. — Lument has provided a $58.2 million Freddie Mac loan for the refinancing of a seniors housing campus located in Rochester in Upstate New York. Wegman Cos. is the borrower. Tyler Armstrong, Chris Cain and Taylor Russ of Lument arranged the financing.
Totaling 332 units, the campus features The Village at Unity and The Hamlet and offers independent living, assisted living and memory care. The Village at Unity comprises 272 independent living units, and The Village at Hamlet comprises 40 assisted living and 20 memory care units. Originally built in 1990, the properties were renovated in 2000, 2012 and 2022.
Wegman Cos. acquired the communities in 2018.
The Freddie Mac loan features a 10-yfear term, with four years of interest-only payments, a fixed interest rate and a 30-year amortization. The financing will replace an existing agency loan and fund capital expenditures, including new siding and roofing.