Lancaster Pollard News


Lancaster Pollard Assists Tri-City Healthcare District with $85.8 Million Financing

Lancaster Pollard has announced it assisted Tri-City Healthcare District to complete a 25-year, $85.8 million mortgage financing insured by the U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) Sec. 242/223(f) program.


Lancaster Pollard Assists on Sale of CountrySide Lakes to Shepherd Health

Lancaster Pollard advised a private ownership group on the sale of its 146-unit seniors housing community in Port Orange, FL. CountrySide Lakes was sold for $30.5 million to Shepherd Health, a Miami-based real estate development company and senior housing operator.


Lancaster Pollard’s Housing Group Expands Presence in Mid-Atlantic and Northeast

Lancaster Pollard’s housing group has announced that Adam Diehl will expand his territory in the mid-Atlantic and Northeast regions to cover a total of nine states. Diehl was promoted to vice president in early 2016 to provide investment and mortgage banking finance services to clients in Maryland, Virginia and Washington, D.C. Beginning in January of 2017, he will also be responsible for clients in Massachusetts, Maine, New Hampshire, Rhode Island, Vermont and West Virginia.


Lancaster Pollard Opens Office in Montana

Lancaster Pollard recently opened an office in Bozeman, Montana, to be led by Matt Lindsay, senior vice president with the firm. Lancaster Pollard is a financial services firm that helps health care, senior living and housing providers expand and improve their services by providing financial advice and financing solutions.


Deals Using New HUD Debt Eligibility Guidance Close

In May of this year, the U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) released an update to its Sec. 232 Handbook that included important changes on eligible indebtedness; specifically, an elimination of the two-year seasoning rule in certain instances. Under the changes, certain high quality, stable cash-flowing projects that previously were subject to debt seasoning for two years were now immediately eligible to seek HUD financing. Lancaster Pollard recently put the new HUD debt eligibility guidance to use as it announced the successful closings of 10 separate transactions for three different clients.


HUD Lean Program Ends Year with $2.8 Billion in Loan Production

The U.S. Department of Housing and Urban Development (HUD) recently released production data for its Lean mortgage insurance program, which finances seniors housing properties, for the fiscal year ending Sept. 30, 2016. Over the course of the fiscal year, the program closed $2.84 billion of loan volume, an increase of 5% as compared to 2015. Lancaster Pollard led all lenders in transactions closed and total loan amount, at 60 and $554.4 million respectively.


Arcadia uses Propero® Equity Structure to Fund New Development

Arcadia Communities, headquartered in Louisville, Kentucky, was founded in 2008 and owns and operates three seniors housing and care properties in Kentucky, Louisiana, and Michigan. Seeking to expand its footprint, Arcadia sought funding to construct a new 79-unit seniors housing and care community consisting of independent living (IL), assisted living (AL) and memory care (MC) units. The project, to be called Arcadia Senior Living-Clarksville, will be located approximately 50 miles northwest of Nashville in Clarksville, Tennessee.


Lancaster Pollard Bolsters Agency and Syndication Platforms

Lancaster Pollard has announced the hiring of Doug Harper and Casey Moore, managing directors of agency finance, and Joe Munhall, director of syndicated credit. All three come from Berkeley Point Capital where they served in similar capacities. 


Martin Kent Joins Lancaster Pollard as Chief Credit Officer

Lancaster Pollard has hired Martin Kent to serve as the firm’s new chief credit officer. Kent, most recently the director of multifamily credit/underwriting for Fannie Mae’s seniors housing programs, will provide credit oversight for all the firm’s banking activities. 


Brett Murphy Opens Chicago Office for Lancaster Pollard

Brett Murphy has opened a new office for Lancaster Pollard in Chicago and will serve as the firm’s primary health care banker for Illinois. Murphy will be providing seniors housing and health care clients with a full range of investment banking, mortgage banking, private equity, balance sheet financing and M&A advisory services.