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TMC Financing recently helped Leo Espinosa, Owner of Butterfly Gardens, secure over $1.5 million in total project financing to purchase an assisted living facility in La Jolla, California. The acquired property replaced Butterfly Garden’s leased space and has given them peace of mind knowing that they will never have to displace their residents ever again.
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(English)
By 2030, California’s population aged 65 or older will double, the Stanford Center for Longevity predicts, and the number of people living in some kind of senior housing is expected to double by that time as well.
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(English)
“We approach the market from a real estate perspective,” Dinesh Sawhney said. “It’s probably not a common path – from shopping centers to a hotel to high-level memory care facilities for seniors with dementia – but there is a need in our market for assisted living, so that’s where the opportunities are.”
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The country’s aging population, increased consumer demands and advances in medical care are driving current trends in suburban medical space development. As a result, we’re seeing an increase in SBA 504 lending for assisted living facilities and owner-occupied medical facilities and there are some common trends emerging.
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By Kurt Chambliss & Anna O…
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TMC Financing today announced that Grace Adult Day Health Care purchased a new location in Santa Clara by taking advantage of the SBA 504 program.
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TMC Financing, Clark County’s largest provider of SBA 504 loans, worked with Bank of Nevada to provide financing to Infinity Hospice Care of Las Vegas for their ground-up construction project totaling $4.98 million
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