Arbor Commercial Mortgage recently provided funding of more than $9.9 million for two assisted-living facilities, including one in Michigan.
The funding supported Oliver Woods Retirement Village in Owosso, Mich., and Marycrest Assisted Living in Denver.
The more than $6.4 million loan for the 80-unit Oliver Woods is made up of a 35-year term with a 35-year amortization. The property was built in four phases from 204 through 2012 and includes four buildings, two for general assisted living and two for residents with greater needs.
Common areas include a central dining room, several activity centers and a library.
