Lancaster Pollard Provides $3.9M HUD Financing for Community in Northern California

REDDING, Calif. — Lancaster Pollard Mortgage Company has provided $3.9 million in FHA Sec. 232/223(f) financing for Sundial Assisted Living in Redding, approximately 170 miles north of Sacramento.

The borrower is Summit Healthcare REIT, which owns the 45-unit assisted living community. Compass Senior Living is the operator.

Summit owns multiple skilled nursing and assisted living facilities throughout the country. The organization was looking for long-term financing that would secure a fixed rate for Sundial. The loan retired both facility debt and the promissory note related to Summit’s purchase of the property.

The loan will improve Sundial’s overall cash flow and fund continued improvements at the facility. Jason Dopoulos led the transaction for Lancaster Pollard.