New York, NY — March 26, 2026 — Lument has announced the closing of a $26.8 million Freddie Mac Seniors Housing loan to refinance Treeo South Ogden, a 143-unit independent living (IL) community in Ogden, Utah, approximately 30 miles north of Salt Lake City. The team of Tyler Armstrong, Chris Cain, and Taylor Russ, all managing directors with Lument, led the transaction.
Treeo South Ogden is a purpose-built IL community owned and operated by Seattle-based Leisure Care, one of the nation’s largest privately held retirement and assisted living companies with 39 communities in 15 states. It opened in 2015 and was voted best IL community by U.S. News and World Report in 2025.
“Lument provided Leisure Care with multiple capital markets executions to refinance this stabilized community,” said Lument’s Armstrong. “We ultimately executed the best strategy for low, fixed-rate long-term debt that funds a capex plan, extends the loan maturity, and right sizes the capital stack.”
The Freddie Mac loan refinances bank debt and provides cash-out proceeds for future development. It has a 10-year term, five years interest only, 30-year amortization, and a fixed interest rate.
“The team at Lument, led by Tyler, Taylor, and Chris, delivered what we expected—best-in-class execution on strategic financing tailor-made for our goals,” said Dan Madsen, chairman and CEO at Leisure Care.
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 550 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/.
