PHOENIX — Lancaster Pollard has provided a $9.5 million FHA loan for the refinancing of Sunshine Village, a 49-unit memory care community in Phoenix.
The cottage-style community consists of seven single-story buildings. It was constructed in 1999 and renovated in 2013.
The nonrecourse loan carries a 35-year term and fixed interest rate. The refinancing provides Sunshine Village with debt service savings as well as over $335,000 in funds for capital improvements.
Jason Dopoulos led the transaction for Lancaster Pollard.