HFC proudly announces the closing of a $34,500,000 Term Loan and $1,000,000 Line of Credit for Arcadia at Limerick Pointe. This 160-unit, independent/assisted living/memory care community is located in Montgomery County, Pennsylvania.
Arcadia was facing maturity of its construction loan without the option to extend. HFC located the source that offered a 5-year term with 2 years interest only. The amount was sufficient to fully repay the existing lender. The all-in rate ais SOFR +3.5%, and using a derivative product, will limit the maximum rate to 7%.
For more information about this community, visit https://arcadialife.com/ or visit them on social media https://www.facebook.com/arcadialimerick