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Home > ... Federal Financing Updates > 12-7-06 LTC Financing
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Strategic renovations sharpen nursing facility’s competitive edge
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COLUMBUS, Ohio (Dec. 7, 2006) – A $1 million financing provided today by Lancaster Pollard will provide for renovations and expansions at Three Rivers Nursing and Rehabilitation Center.
Three Rivers was built near Cincinnati in 1963 and completely renovated in 1998. The 169-bed skilled and intermediate nursing care center will use the new money to upgrade its facility to remain competitive and retain its high occupancy rate.
Expansion of the Alzheimer’s unit will allow the facility to provide more programs for its dementia-care residents. The funding also provides for a new formal lounge area and store for residents, new short-term rehabilitation therapy rooms, and a new dining area. Upgrades to resident rooms include cable and new wall finishings, and new carpeting and tile in both rooms and common areas. The financing also provides for utility work and $30,000 in furnishings.
“Three Rivers’ continual upgrades keep it a competitive player in the geriatric services market,” said Brian Pollard, senior managing director of Lancaster Pollard. “Its choice to use debt rather than cash to finance renovations is a strategic move that keeps its balance sheet and liquidity strong for the long term.”
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