Lument helps Nevada senior housing community with $11.4 million bridging loan

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NEW YORK, February 18, 2022 /PRNewswire/ — Lument recently announced the closing of a $11.4 million exclusive bridge loan to refinance Mesa Valley Estates, a 78-unit senior housing and care community in Mesquite, Nevada. Lument General Manager Steve McGee and director Rob McAdams conducted the transaction.

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

“We were thrilled to work with MSL to collaborate on this fundraising which achieves all of their goals,” McGee said. “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 includes 54 assisted living units and 24 memory care units. The community sits on a 5.74 acre parcel of land and was originally built in 2019. On-site facilities include a bistro and coffee corner, movie theatre, concierge, hair salon and a beauty salon, a wellness center and a private medical practice for visiting doctors. .

About Lument
ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corporation United States. Lument is a national leader in commercial real estate financing. As the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard and RED Capital Group, Lument offers a comprehensive set of customized capital solutions for investors in multifamily and affordable housing, retirement 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 more than 25 offices across United States. Securities, investment banking and advisory services are provided by 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 United States Securities and Exchange Commission. For more information, visit www.lument.com.

MEDIA CONTACT
Tyler Howard | Associate Director
513-403-1911 | [email protected]

SOURCE Lument

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