MidCap Financial closed a first mortgage loan for Vineyard Bluffton, a newly built seniors housing community in Bluffton, South Carolina. Owned by Valeo Groupe Americas, LLC, the Class-A community consists of 96 assisted living and memory care units. It was one of five projects in the works for Valeo and opened in October 2020.
To recapitalize the property, Valeo received a $20.55 million floating rate first mortgage loan from MidCap. Peter Martz arranged the transaction for MidCap (its first with Valeo), while Noam Kaminetsky of Meridian Capital Group also handled the transaction.
