Lancaster Pollard Arranges $12.2M HUD Loan for Seven-Community Portfolio in Idaho

COLUMBUS, Ohio — Lancaster Pollard, a Columbus-based broker, has arranged $12.2 million in HUD financing for the acquisition of seven assisted living and memory care communities in Idaho.

The borrower was Cross Healthcare. The properties are spread across three cities, all in the eastern portion of the state.

Cross originally sold the properties to CareTrust REIT in 2014 and leased them back until ultimately acquiring them via this transaction. The specific names and locations of the properties were not disclosed.

The transaction was financed as one scattered-site loan and, in addition to financing the acquisition, provided funds to reimburse Cross for capital expenditure improvements previously made. Rob McAdams led the transaction for Lancaster Pollard.