Poppy Bank Provides $29.5 Million Refinance For Northwest Visalia Senior Housing LLC In Visalia

The transaction involves a 120-unit senior living community located at 3440 West Flagstaff Avenue in Visalia, CA. The property is under the management of Living Care Lifestyles. It was refinanced for a total of $29.5 million, with loan terms including a 10-year duration and the initial 5 years featuring interest-only payments.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $29,500,000
• Lender: Poppy Bank
• Landlord: Northwest Visalia Senior Housing LLC
• Broker: Stuart Oswald - Northmarq
• Loan Type: Refinance
• Loan Terms: 10-year term with interest only the first 5 years

Stuart Oswald from Northmarq represented the refinancing deal, which successfully transitioned the property from a bridge loan initially secured in 2021. The Seattle Debt + Equity team at Northmarq facilitated this arrangement through Poppy Bank.