Lancaster Pollard Arranges $1.8M Bridge Loan for Community in Nevada

by Jeff Shaw

RENO, Nev. — Lancaster Pollard has arranged a $1.8 million bridge loan for Reno Valley Assisted Living & Retirement Center (RVALRC), a 118-unit assisted living facility located in Reno.

The community was acquired in 2013 and has undergone a turnaround process. The loan, provided by a local lender, has a five-year term and will fund further capital improvements, debt repayment and recapitalization. The improvements will also allow RVALRC to accept Medicaid residents, opening its doors to a wider range of customers.

The community plans to refinance the loan within three years once improvements are implemented.

Grant Goodman led the transaction for Lancaster Pollard. 

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