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LEXINGTON, Ky. — MidCap Financial has arranged $35 million in financing for the acquisition of Legacy Reserve at Fritz Farm, an independent living, assisted living and memory care community.
The 167-unit community is located in the Pickway Korner neighborhood on the southern outskirts of Lexington.
Atlas Senior Living, which already operated the community, used the loan to exercise a purchase option on the property. The floating-rate mortgage also provides a return for investors and working capital for the community.