Love Funding Secures $4.63 Million Refinancing for Assisted Living Center in Traverse City, Michigan


Love Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of a $4.63 million loan refinancing for Bay Ridge Assisted Living Center in Traverse City, Michigan.
 
Love Funding Midwest Regional Director Bruce Gerhart of the Cleveland office secured the financing through the U.S. Department of Housing and Urban Development’s 232/223(f) LEAN loan program.

This is the sixth assisted living facility Gerhart has refinanced this year for Reenders Inc., a longstanding Grand Haven-based client that owns and operates the Bay Ridge property through subsidiaries. The facility consists of one single-story building that was built in 2006 and currently operates at 47 beds within 45 residential living units, including both assisted living and memory care.
 
For more information, contact Bruce Gerhart.

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