Lancaster Pollard Helps Hawaii’s Plaza at Punchbowl with $33 Million Fannie Mae Refinance

COLUMBUS, Ohio--(BUSINESS WIRE)--Lancaster Pollard Mortgage Company, a division of ORIX Real Estate Capital (OREC), 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 Lancaster Pollard.

“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 Lancaster Pollard. Harper and Moore lead the Western team of seniors housing and health care production for the firm.

ORIX Real Estate Capital

ORIX Real Estate Capital (OREC), the combined company of Lancaster Pollard, RED Capital Group, and Hunt Real Estate Capital, provides specialized capital solutions for multifamily, affordable, seniors and healthcare real estate together with its affiliated companies. OREC is a subsidiary of ORIX Corporation USA, the U.S. subsidiary of ORIX Corporation, a publicly owned, Tokyo-based international financial services company. For more information, visit www.orixrealestatecapital.com.