SunTrust Provides $37.5M Financing for Memory Care Expansion in Mississippi

RIDGELAND, Miss. — SunTrust Banks has served as sole lender of a $37.5 million refinancing for The Orchard, a seniors housing community in Ridgeland, a northern suburb of Jackson.

The funds will allow the community to replace its existing 13-unit memory care facility with a new, 40-unit building, in addition to general renovations at the property. The Orchard also offers independent living, assisted living and rehabilitation.

Construction will begin in summer 2019 and is expected to be complete by the following summer.

The Orchard is an affiliate of Wakefield Capital.