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ANCHORAGE, Alaska — Love Funding has arranged a $20.1 million bridge loan for the construction of Baxter Senior Living, an assisted living community in Anchorage.
The community will offer 63 units of assisted living and 33 units of memory care. Located within Anchorage’s U-Med district, the property will be less than two miles from three different hospital.
Love Funding’s Holly Bray secured the funding, with Love’s parent company Midland States Bank providing the capital. The borrower plans to swap out the loan for long-term HUD financing in the future.
Baxter Senior Living is scheduled for completion in summer 2019.