Infinity Obtains $5M SBA Construction Loan for Hospice Facility
Las Vegas will see a new assisted living facility take shape after a financing deal will help the developer get construction on track. TMC Financing recently issued a press statement announcing that it had provided developer Infinity Hospice Care of Las Vegas, LLC with an SBA 504 loan worth $4.98 million. The developer will use the funds in the development process of a new facility in Las Vegas. TMC Financing Business Development Office, Cindy Santilena, CCIM was in charge of the transaction.
By Alex Girda, Associate Editor
TMC Financing provided Infinity Hospice Care of Las Vegas, L.L.C. with a $5 million SBA 504 loan for construction of a 9,616-square-foot hospice, TMC said Feb. 15 in a statement. Cindy Santilena served as business development officer for TMC on the transaction.
The 12-bed hospice facility, which opened last August at 6330 S. Jones Blvd., also includes a 9,015 square-foot office support building. Infinity Executive Vice President Brian Bertram commented in a statement that the facility “will help address the demand in the Las Vegas Valley for more comprehensive in-patient, supportive care.”
Demand for healthcare-related facilities in Las Vegas is expanding. Last November, the Las Vegas City Council approved CITRA Real Estate Capital’s plans to develop a $71 million assisted living and skilled nursing facility on a former rail yard at 394 S. City Parkway. CITRA’s project will offer 150 beds and 140 residential units, as well as a parking structure that will accommodate 464 vehicles.
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