PAPILLION, Neb. — Lument has provided a $41.5 million Freddie Mac loan to refinance Hillcrest Country Estates Grand Lodge, an upscale senior living community in Papillion, a suburb of Omaha.
Set on Hillcrest Country Estates’ 44-acre campus, which offers the full continuum of care, Grand Lodge was built in 2015 and features 102 independent living apartments and 60 assisted living and memory support apartments.
Quintin Harris, managing director and head of Lument’s Midwest seniors housing and healthcare team, spearheaded the transaction along with Doug Harper and Casey Moore, managing directors at Lument.
The non-recourse Freddie Mac loan features a 10-year term and 30-year amortization. The transaction refinances existing bank debt and provides cash-out proceeds.