BMO Has Georgia On the Mind

by | May 19, 2017 7:01 am | Developments, Financings | 0 comments

Solomon Development is building a new senior living community near the heart of Atlanta, Georgia (in Decatur, to be exact) with the help of the BMO Harris Healthcare Real Estate Finance group. Featuring 96 assisted living, 71 independent living and 33 memory care units, the project is located on a 3.5-acre lot with easy access to local shops and amenities. It is estimated to cost approximately $67 million, or around $335,000 per unit, to build, which is far above the $220,000-per unit average for seniors housing properties in the state, according to our in-house senior living development database dating back to 2013. BMO is financing approximately two-thirds of that cost with $44.2 million... Read More »