COLUMBUS, Ohio (May 9, 2005) – Lancaster Pollard announces the $3.6 million financing for the acquisition of Wynnfield Crossing, an independent, 52-unit unlicensed independent living and assisted living facility in Rochester, Ind.

Christopher Place at Wynnfield Crossing Associates LLC, a senior living developer in Ann Arbor, Mich., used the proceeds of the $3.6 million taxable transaction to acquire the property from K & A Villages.

Lancaster Pollard & Co., an investment banking firm located in Columbus, Ohio, assembled the financing team and served as the sole underwriter on the transaction, which took only 72 days to complete.

Charles Maulbetsch, president of Christopher Place Senior Communities, praised the overall efficiency of the transaction and financing team.

"In 20 years of doing transactions, I have never seen, heard of, or experienced a more cohesive talented working group," Maulbetsch said.

Lancaster Pollard secured a letter of credit from an "AA-/A-1+"-rated bank to provide enhancement on the variable-rate notes, which have a 25-year amortization.

Proceeds from the Series 2005 bonds will be used to fund the acquisition, as well as provide an operating and replacement reserve for the facility. Additional funds will be used to retrofit the facility with a sprinkler system and pay for closing and financing costs associated with the project.

Located 70 miles west of Fort Wayne, Wynnfield Crossing was built in 1999 and features 22 studio units, 23 one-bedroom apartments and seven two-bedroom apartments.

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