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IDAHO — VIUM Capital has provided a $7 million bridge loan for the acquisition of a 79-unit assisted living and memory care community in Idaho.
Representing 75 percent leverage, the initial advance was $6.4 million with a $510,000 earn-out that can be advanced at HUD submission.
The borrower already owned three senior living communities in Idaho, and this project presented an opportunity to acquire at a solid basis and stabilize operations. The plan is to submit a HUD application 12 months post-closing.
Further details were not disclosed.