Contemporary Healthcare Capital Provides $2.5M Mezzanine Loan for Development in Nevada

MESQUITE, Nev. — Contemporary Healthcare Capital has provided $2.5 million in mezzanine financing for Mission Senior Living to develop a 78-unit seniors housing community.

The unnamed, 60,450-square-foot community will be located in Mesquite, northeast of Las Vegas near the Arizona and Utah borders.

The financing is part of a $10.5 million total package to fund the new construction. CoastalStates Bank and Sunwest Bank provided the senior loan portion of the loan. The financing represents an 85 percent loan-to-cost ratio.