The Richmond, Va., office of Birmingham, Ala.-based Highland Mortgage Co. has provided a $5.8 million loan for the construction and permanent financing of Rosewood Village Assisted Living, a seniors housing facility to be built in Charlottesville, Va. The 40-year loan carries an 8.25% interest rate. The U.S. Department of Housing and Urban Development (HUD) underwrote the loan and provided the mortgage insurance through its 232 program.

Rosewood Village LC and Rosewood Manor Inc., both of Charlottesville, will develop and manage the facility, respectively.