Lument Assists Seniors Housing Community in Nevada with $11.4 Million Bridge Loan

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Feb 18, 2022, 08:30 ET

NEW YORK, Feb. 18, 2022 /PRNewswire/ -- Lument recently announced the closing of an $11.4 million proprietary bridge loan to refinance Mesa Valley Estates, a 78-unit seniors housing and care community in Mesquite, Nevada. Lument Managing Director Steve McGee and Director Rob McAdams led the transaction.

The sponsor of the loan is Mission Senior Living (MSL), an experienced developer, owner, and operator of 10 seniors housing communities with a total of 1,000 units. The $11.4 million loan features a three-year term, 25-year amortization, and 24 months of interest only.

"We were excited to work with MSL to collaborate on this financing that achieves all of their goals," said McGee. "This loan will allow them to refinance their original construction and mezzanine debt and replace it with lower cost senior debt, resulting in significant annual interest rate savings."

Mesa Valley Estates features 54 assisted living units and 24 memory care units. The community is situated on a 5.74 acre parcel of land and was originally constructed in 2019. Onsite amenities include a bistro and coffee nook, movie theater, concierge, barber shop and beauty salon, a wellness center, and a private medical office for visiting physicians.

About Lument
ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corporation USA. Lument is a national leader in commercial real estate finance. As the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, Lument delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, real estate investment sales, investment banking, and investment management solutions. Lument has approximately 600 employees in over 25 offices across the United States. Securities, investment banking, and advisory services are provided through OREC Securities, LLC, d/b/a Lument Securities, Member FINRA/SIPC. Investment advisory services are provided by OREC Investment Management, LLC, d/b/a Lument Investment Management. OREC Investment Management is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, visit www.lument.com.

MEDIA CONTACT
Tyler Howard | Associate Director
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SOURCE Lument