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The Village at Orchard Ridge


The Situation

To further its mission, National Lutheran Communities & Services (NLCS) decided to build a new continuing care retirement community outside historic Winchester, Virginia, about 75 miles east of Washington, D.C.

NLCS needed financing for a new $120 million senior living construction project featuring 159 independent-living units, 10 units for Alzheimer’s patients and a 10-bed skilled nursing facility.

Village at Orchard Ridge

The Challenge

After purchasing 100 acres of pastoral land close to town, shopping, a hospital and other amenities, The Village at Orchard Ridge began pre-sales in 2008. Unfortunately, the local and national economies were at a low point. NLCS decided to build in phases, as opposed to assuming the economic risk of completing a large project in uncertain times.

The Hamlin Solution

Hamlin Capital Advisors helped arrange a customized financing solution, despite a low level of pre-sales, that not only allowed The Village at Orchard Ridge to build in phases, but also to obtain the necessary permanent financing in a “drawdown” manner similar to a construction loan.

This approach saved NLCS tens of millions of dollars in financing costs over the life of the debt. Accordingly, NLCS was able to build its first phase with less debt than if it had used more traditional financing.

“Hamlin has taken a great deal of care in meeting both the short- and long-term needs of NLCS, and has shown a high degree of integrity with a personal touch.”*

Michael J. Brady, CPA, Chief Financial Officer
National Lutheran Communities & Services (NLCS)

“Over the course of three financings, Hamlin has always delivered on both its word and its financial commitments.”*

Larry Bradshaw, President and Chief Executive Officer
National Lutheran Communities & Services (NLCS)


*Testimonials provided may not be representative of the experience of other clients. Such testimonials are no guarantee of future success or performance.