New York, NY — Lument recently closed a $7.5 million Fannie Mae loan to refinance Carlton Senior Living, a 56-unit assisted living (AL) community in Sacramento, California. Nick Hamilton, Casey Moore, and Doug Harper led the transaction for Lument.
“Working with this experienced sponsor, a repeat Lument client whose stewardship of real estate and care for residents is second to none, was a true pleasure,” said Hamilton. “We have provided this sponsor a variety of funding solutions over the past 20 years, and we look forward to continuing our successful collaboration.”
Built in 2008, Carlton Senior Living is located on the Carlton Senior Living Continuum of Care Campus, next to a 128-unit AL and memory care community that was refinanced in 2016, also with assistance from Lument. When it first opened, Carlton Senior Living was serving high acuity AL residents. In 2021, the sponsor altered its strategy and catered it services more toward traditional AL.
The $7.5 million Fannie Mae loan refinances an existing Fannie loan and features a seven-year term, 30-year amortization, and a low fixed interest rate.
Lument, a subsidiary of ORIX Corporation USA, is a national leader in commercial real estate finance and delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, real estate investment sales, investment banking, and investment management solutions. The company has approximately 650 employees in over 30 offices across the United States. Securities, investment banking, and advisory services are provided through Lument Securities, LLC, Member FINRA/SIPC. Lument Investment Management, LLC, is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, visit www.lument.com.