LPM Staff

U.S BANK HELPS HACIENDA

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The U.S. Bancorp Community Development and Investment Corporation, U.S. Bank in Arizona and investment partner Phoenix Community Development and Investment Corporation, a subsidiary of the City of Phoenix, recently announced that theyclosed a $6 million New Markets Tax Credit transaction to inject capital into the Hacienda Skilled Nursing Facility’s campus expansion at 1402 South Mountain Ave. Hacienda is a skilled nursing facility for medically fragile infants, children and young adults.

Last year, 159 patients were cared for at the facility, which currently has 37 beds.

This transaction, which included construction and permanent loan financing by U.S. Bank in Arizona, will more than double the size of Hacienda’s current 33,446 square foot facility on its 5.3 acre campus. The 38,000 square foot expansion is the first phase of four that Hacienda anticipates will increase its patient capacity by 110, and skilled employment by up to 50 new jobs over the next seven years.

For more information: www.usbank.com.

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