Bloomfield Capital Provides $5.6 Million in Mezzanine Debt for Texas Senior Housing Community
Bloomfield Capital, a national direct lender and equity investor has announced the closing of a $5.6 million mezzanine loan in Longview, TX. The loan is secured by a newly built 189-unit senior housing community providing independent living, assisted living, and memory care.
The loan proceeds were used to refinance a portion of the existing debt and provide working capital for the lease-up of the community. The property is owned by Thrive FP, an Impact Private Equity Firm, and operated by regional management firm 12 Oaks Senior Living. Lancaster Pollard represented Thrive FP on the transaction.
“As a balance sheet lender, Bloomfield Capital was able to provide the sponsor with expediency and transparency throughout the closing process coupled with a confidence of capital that allows them to begin conducting additional lease-up efforts immediately,” stated Nicholas Coburn, Founder and Managing Partner at Bloomfield Capital. “This transaction represents the quality of our team and our diligence process and demonstrates our desire for continued involvement in the senior housing industry.”