New York, NY — July 24, 2024 — Lument announced that it closed transactions totaling $38.8 million for Carlton Senior Living, one of Northern California’s largest senior living providers with 11 independent living, assisted living, and memory care communities in operation. The transactions were led by Lument’s Nick Hamilton, senior managing director, and Casey Moore, managing director, both based in San Diego, California.
The $38.8 million in Freddie Mac loans are across two separate properties—$13.5 million to refinance a 123-unit senior living property in Fremont and $25.3 million to refinance a 126-unit senior living property in San Jose.
Both loans feature a fixed interest rate, a 10-year term, and 30-year amortization. One loan also provides funds for renovations to improve the San Jose property.
“We appreciate our continued partnership with Carlton Senior Living and are pleased to be associated with their track record of exceptional care, diverse activities, and compassionate staff in the assisted living industry,” said Hamilton.
Moore added, “Timely and efficient collaboration led to a great outcome for Carlton. We were able to get the requested interest only terms and meet their timeline in a challenging environment.”
Founded in 1985, Carlton Senior Living offers families a wide choice of programs and has won national awards for their resident care, health and fitness, and staff development programs.
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/.
