NEW YORK, NY — Lument, the combined organization of Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, recently announced the closing of a $33 million refinance for The Plaza at Punchbowl, a premier seniors housing and care community located in Honolulu, Hawaii, and owned by MW Group, Ltd.
The Plaza at Punchbowl is located on the slopes of Punchbowl Crater, an extinct volcanic tuff cone located in the heart of Honolulu. The Punchbowl Crater is known for being home to the National Memorial Cemetery of the Pacific, a U.S. armed services memorial that draws millions of visitors each year.
Built in 2003 and recently renovated in 2017, The Plaza at Punchbowl is a class-A facility that features 68 independent living (IL) units, 20 assisted living (AL) units and 20 memory care (MC) units. It is one of six seniors housing and care communities in Hawaii operated by The Plaza Assisted Living.
“We were proud to partner again with MW Group, Ltd. to provide beneficial long-term Fannie Mae® financing for The Plaza at Punchbowl,” said Doug Harper, managing director with Lument.
“By taking advantage of historically low interest rates, we were able to replace existing Fannie Mae debt with a new Fannie Mae loan that features a 10-year term with five years of interest only,” added Casey Moore, also a managing director at Lument. Harper and Moore lead the Western team of seniors housing and healthcare production for the firm.
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, investment banking, and investment management solutions. Lument has approximately 600 employees in over 25 offices across the United States. Securities, investment banking, and advisory services are provided through OREC Securities, LLC, d/b/a Lument Securities. For more information, visit www.lument.com.