Silver Arch Capital Partners recently closed a $4.75 million loan for the owners of Belle Oakes Living Center, a 48-unit, 32,000-square-foot assisted living facility on 20 acres in Lake City, Michigan.
The loan will allow the owners of Belle Oakes to continue to streamline operations and obtain conventional financing.
“The borrowers needed to refinance an existing mortgage and pay off other debt related to a recent 11-unit expansion of the property,” said Jeffrey Wolfer, president and chief executive officer of Silver Arch Capital Partners, in a statement.
Built in 2002 and renovated in 2012, Belle Oakes Living Center is situated in Missaukee County.
