Finance

ST. MICHAEL, Minn. — Lancaster Pollard has arranged a $11.7 million refinancing for The Legacy of St. Michael, a 95-unit independent living, assisted living and memory care community in the Minneapolis suburb of St. Michael.

AUSTIN, Texas, and CINCINNATI — Capital One has provided a $65 million loan to Holiday Retirement to recapitalize two of its seniors housing communities.

Billy Meyer, managing director of Seattle-based Columbia Pacific Advisors, doesn’t mince words when talking about the bridge lender’s cautious approach to financing seniors housing product today. “We don’t underwrite hope as a strategy anymore. It’s just not a good execution strategy, we believe.”

LONG ISLAND, N.Y. — Carnegie Capital has sourced and structured a $24 million bridge loan to refinance a skilled nursing and assisted living facility along the North Shore of Long Island.

NACOGDOCHES, Texas — Capital One has provided a $9.3 million Fannie Mae fixed-rate loan to refinance The Arbor Assisted Living and Memory Care, a 59-unit seniors housing facility in Nacogdoches.