Lodi, CA

$3,143,000

Assisted Living Facility

Purchase

07/31/2019
Transaction by
Wilshire Finance Partners
In late 2019, Wilshire Finance Partners provided a $3,143,000 bridge loan for the acquisition of a senior assisted living facility in Lodi, San Joaquin County, CA. The borrower consortium consisted of several highly experienced operators that had syndicated equity for this transaction. They identified an older facility in Northern California with a terrific layout and the ability to increase the memory care component of the facility without ground up construction or large structural changes. Combining both new debt capital through Wilshire and capital through the borrower’s syndicated equity, Wilshire structured a facility set aside capital for improvements and operating expense deficits while the property was in transition. The loan-to-value was 75% with a loan term of 36 months.