ARLINGTON, Va.–National Cooperative Bank (NCB) along with Wright-Patt Credit Union, (WPCU) reported they have closed a $16 million loan to support a $31.6 million New Markets Tax Credit (NMTC) financing package for the development of a 2 ½ story, 84,000 sq. ft. healthcare facility on four acres of land in Dayton, Ohio.
The facility will replace five existing leased clinic spaces and will provide integrated and expanded services in one location. Five Rivers new facility will be known as the Edgemont Campus. NCB and WPCU will each provide a term in loan in the amount up to $8 million.
“NCB is proud to work with Wright-Patt Credit Union, in securing the financing necessary for Five Rivers to expand and provide critical health services to the residents of Dayton, OH”, stated Bob Montanari, senior vice president at National Cooperative Bank. “As a lender who specializes in the healthcare industry, we know the impact that affordable healthcare can bring to a community and look forward to the completion of the campus.”
“Wright-Patt Credit Union is excited to support the construction of this new community health resource”, stated Scott Everett, VP-member business services/new ventures. “Five Rivers is an exceptional resource for Greater Dayton and led by a fantastic leadership team. We look forward to future opportunities to partner with Five Rivers toward improving outcomes for those we both serve.”