Lancaster Pollard recently assisted Trilogy Health Services with the refinance of four of its skilled nursing and assisted-living facilities, St. Elizabeth Healthcare in Delphi, Ind.; Franciscan Healthcare Center in Louisville; Cumberland Pointe in West Lafayette, Ind.; and Blair Ridge Health Campus in Peru, Ind.
The four facilities contain a total of 281 skilled-nursing units and 184 assisted-living units.
Lancaster Pollard orchestrated the $38.5 million refinance using the FHA Sec. 232/223(f) program. The transaction funded nearly $3 million in repairs and more than $2.5 million in an initial replacement reserve deposit.
In addition, the firm was able to facilitate a capital expenditures look-back, providing funds for Trilogy to reimburse itself for previous repairs and capital expenditures. The new loans reduced Trilogy’s interest rate by more than 300 basis points and carry terms between 30 to 35 years.
Chris Blanda, vice president and health care banker representing Indiana and Kentucky, led the transaction for Lancaster Pollard.
