Lument Securities Advises Philadelphia-Area Continuing Care Retirement Community on Sale
NEW YORK, Sept. 15, 2021 /PRNewswire/ -- Lument Securities (Lument) recently advised the board of directors of Bryn Mawr Terrace, a continuing care retirement community (CCRC) located in Bryn Mawr, Pennsylvania, on its sale to a private operator. Laca Wong-Hammond and Dominic Porretta led the transaction for Lument Securities.
Located roughly 10-miles from downtown Philadelphia in the Main Line and operated by Main Line Senior Care Alliance, Bryn Mawr Terrace is an independent non-profit organization providing skilled nursing, memory care, and personal care services. As a standalone senior care provider without a Medicaid license, the board of directors at Bryn Mawr desired a strategic and confidential sale.
“We couldn’t have done this transaction without the team from Lument,” said Kevin Ross, president and CEO of Bryn Mawr Terrace and Main Line Senior Care Alliance. “It was my pleasure to work with a team of knowledgeable people and we are grateful for what they helped us accomplish.”
The transaction closed in late August and included an assumption of the existing U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) loan that is also serviced by Lument, creating efficiencies in the closing process. Additional terms of the transaction were not disclosed.
Lument Securities served as exclusive financial advisor to Bryn Mawr Terrace in connection with the transaction. Post & Schell, P.C. served as legal counsel to Bryn Mawr Terrace.
ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corporation USA. Lument is a national leader in commercial real estate finance. As the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, Lument delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, real estate investment sales, investment banking, and investment management solutions. Securities, Investment Banking and Advisory Services provided through OREC Securities, LLC, d/b/a Lument Securities, Member FINRA/SIPC. Investment advisory services are provided by OREC Investment Management, LLC, d/b/a Lument Investment Management. OREC Investment Management is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, visit www.lument.com.
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