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GRAND RAPIDS, Mich. — Lancaster Pollard has provided an $11 million, FHA-insured refinancing for Vista Springs Northview, an 88-unit assisted living community in Grand Rapids.
The loan refinanced the first mortgage, which was a variable-rate loan, as well as other subordinate debt used to expand the facility in 2014. In addition to the refinancing, the loan will provide approximately $730,000 for facility repairs.
Brendan Healy led the transaction for Lancaster Pollard.