New York, NY — February 20, 2024 — Lument announced the closing of a $27 million debt placement to assist Mission Senior Living with the construction of a 124-unit, 129-bed, two-story assisted living and memory care community to be known as Mesa Verde Estates in Durango, Colorado. Lument’s Steve McGee, Rob McAdams, and Sangjin Na led the transaction.

The financing structure included a $20.9 million U.S. Department of Agriculture (USDA) guaranteed loan provided by a community bank. The structure also includes approximately $6 million of commercial property assessed clean energy (C-PACE) proceeds, which Lument sourced from an independent investment firm. C-PACE is an alternative financing mechanism used for the upfront costs associated with energy efficiency or renewable energy improvements.

Lument did a fantastic job helping us round out the capital stack with a creative structure in a very challenging construction financing market,” said Mike Deines at Mission Senior Living. “We’re really pleased and are excited to deliver this project to the Durango community.”

Founded in 2012, Mission Senior Living is an owner and operator of senior living communities in the western U.S. with six communities totaling 639 units under management.

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 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. The company has approximately 600 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