MidCap Closes $35M Acquisition Loan for Community in Lexington, Kentucky

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.