Walker & Dunlop has advised an equity partnership on a $300 million construction financing arranged by Huntington National Bank for a luxury life plan community in Tysons, Virginia.
Tysons LPC, LLC is a 50/50 partnership between Mather Investments and Westminster Capital. It will own the to-be-built CCRC entitled The Mather — a two-building project consisting of 300 independent living apartments, 60 assisted living apartments, 20 memory care suites and 42 skilled nursing suites. The community will be completed in two phases, with the first phase expected to open in early 2024.
The Mather has been designed for transit accessibility, a walking lifestyle and environmental sustainability. Multiple restaurants, a fitness center, wellness spa, art studio, rooftop terrace, saltwater pool, parking, and retail amenities will be located throughout the grounds and the community’s 19- and 27-story towers.
Walker & Dunlop’s Jonathan Schwartz, Aaron Appel, Ari Hirt, Sean Bastian and Taylor Geiger advised on the deal. According to Mr. Schwartz, The Mather experienced pre-sale velocity well ahead of its projections.
