OREGON CLOSING ANNOUNCEMENT

• $8,750,000 Term Loan
• Memory Care
• Refi and Expansion
• Oregon
• July 2022

July 28^th, 2022 – Monarch Advisors is pleased to announce the closing of a new loan to refinance and expand a 38-bed memory care facility in the Portland area.  The local owner engaged Monarch to source $8.75 million of senior debt for the transaction.  Monarch was successful at securing a commitment from a strong regional bank that specializes in senior housing nationally.  The loan retired the existing bank debt on the property and provided cash at closing to fund a 16-bed expansion.  At less than 60% of the as-stabilized value, the building will be well-positioned for the permanent market upon completion and lease-up. The rate floats at Prime with typical financial covenants and recourse to the principals.

Upon closing the transaction, the client, offered the following statement, “We engaged Monarch Advisors to source the debt for our recent project.   Alec worked hard to find us senior lenders with very competitive terms and pricing and helped us through the underwriting process all the way to closing.  We would be happy to work with Monarch again and would recommend them highly.”