Finance Q Kentucky

PGIM provides $15 million of loans for Kentucky seniors facilities

PGIM provides $15 million of loans for Kentucky seniors centers,ph01

PGIM Real Estate Finance recently provided a combined $15.3 million for two Morning Pointe senior communities in Kentucky.

PGIM provided a $7.5 million refinancing loan for Morning Pointe Danville in Danville, Kentucky. The refinance features a 10-year, fixed rate for the 60-unit assisted living and memory care facility that was built in 2017.

PGIM also closed a $7.8 million 10-year, fixed-rate loan for the 44-unit The Lantern at Morning Pointe Russell in Russell, Kentucky. The memory care facility was built in 2017 and is 97.7 percent occupied.

Christopher Fenton, principal at PGIM Real Estate Finance, originated the loans.