Pillar Arranges $11.9M HUD Refinancing for Community in Miami

by Jeff Shaw

MIAMI — Pillar has arranged an $11.9 million loan to refinance the Residential Plaza at Blue Lagoon, a 14-story, 350-unit seniors housing facility in Miami.

Pillar originated a HUD fixed-rate, fully amortizing 35-year loan that provides annual savings of more than $88,000.

Members of Pillar’s Healthcare Finance team, Joshua Hausfeld, managing director of Pillar’s Bethesda, Md., office, and Evan Hom, director in Pillar’s New York office, originated the loan. The borrower is Assistance to the Elderly Inc., a nonprofit owner.

You may also like