People’s United Bank announced that its Healthcare Finance Division provided a credit facility to support Brightview Senior Living’s development of a new senior living community in Wayne, New Jersey (New York City MSA). Being built on the 9.6-acre site of a vacant retail structure, Brightview knocked that building down to replace it with a 190-unit community that will consist of 97 independent living, 58 assisted living and 35 memory care units, with 200,000 total square feet.
People’s had an existing relationship with Brightview, allowing for a smooth closing of a $61 million credit facility to fund the community’s construction. Already operating more than 40 communities in eight states on the East Coast, Brightview further expands its presence in the New York City metropolitan area where the company already has nine communities in operation.
