First Citizens Bank announced that its Healthcare Finance business has refinanced The Bristal at Wayne, a 158-bed seniors housing community in Wayne, New Jersey. The borrower is a joint venture affiliate of Chicago-based Harrison Street and B2K Development. The same joint venture served as the community’s original developer, with Ultimate Care Assisted Living as the operator. The community was completed in 2019 at an approximate cost of $50 million, or $315,000 per unit.
Joint Venture Secures Refinancing
