59
CHARLOTTE, N.C. —Lancaster Pollard’s recently launched finance company has provided a $5.3 million balance sheet loan to fund Meridian Senior Living’s acquisition of Lawyer’s Glen Retirement Living Center.
Lawyer’s Glen Retirement Living Center is an 82-bed licensed assisted living and dementia care facility located in Charlotte, N.C. Meridian, an operator of over 100 communities nationwide, sought to acquire Lawyer’s Glen and improve operations.
Lancaster Pollard Finance Co. was able to provide a direct bridge loan and commit to closing in only 11 days.
In addition to providing financing for the acquisition, the loan also provided for significant capital improvements to the property as well as a reserve for working capital.