Lument secures a $21.2 million HUD-insured loan to refinance the 132-unit Pemberly Place Senior Living community in Lincoln.
Lument has closed on a $21.2 million HUD-insured loan for the refinancing of Pemberly Place Senior Living, located in Lincoln, Nebraska. The financing, which features a fixed interest rate and a 35-year term, was secured through the Federal Housing Administration's (FHA) Express Lane program. This initiative was designed to accelerate approval timelines for low-risk, low-leverage transactions.
Developed in 2017, the property consists of 132 units offering a mix of independent living, assisted living, and memory care services. The borrower will utilize the proceeds from the refinancing to retire existing bank debt associated with a construction loan.
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