New York, NY — April 11, 2025 — Lument has announced the closing of a $37.2 million U.S. Department of Agriculture (USDA) Community Facilities (CF) loan to provide permanent financing for a new hospital in Riverton, Wyoming. Rob McAdams, director for Lument in Denver, led the transaction.
Construction for Riverton Medical District (RMD) started in January 2025 and is expected to take approximately 18 months to complete. RMD operates as a nonprofit organization and was formed in response to the reduction of available healthcare services following the merger of two area hospitals (Riverton and Lander) in 2014. After the two facilities merged, hospital services began shifting to Lander, leaving Riverton community members with minimal healthcare services available in their area. Many of the necessary medical, surgical, specialty, and ancillary services were either reduced or eliminated altogether at the Riverton facility.
The Riverton community responded by launching an effort to build a new hospital, securing millions of dollars in grants and donations, including land for the hospital from the Eastern Shoshone Native American tribe. Leadership at RMD sought financing to fund the design and construction of a new acute care hospital that provides inpatient and outpatient services, providing much-needed integrated healthcare for the residents of Riverton.
“We’re thrilled to play a small part in this tremendous success story,” said Lument’s McAdams. “From engaged residents to the RMD board, everyone invested showed strength and resilience throughout the process, and their herculean efforts over the last six years will result in a brand new, top-notch facility to provide the care that Riverton residents deserve.”
Lument led the process of obtaining construction financing from regional bank First Interstate while arranging for permanent financing via the USDA CF direct loan. The USDA CF loan has a 40-year term and fixed interest rate.
About Lument
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 offers Fannie Mae, Freddie Mac, FHA, USDA, and balance sheet financing, as well as a full suite of capital market lending products. In addition, Lument provides a suite of real estate advisory solutions including real estate investment sales, investment banking, and investment management solutions. The company has approximately 600 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 https://www.lument.com/.
