Fifty Stones Capital Group closed a $39.3 million construction loan for a seniors housing community in Chandler, Arizona. The proposed development comprises 147 units with 150 beds. The opportunity came to Fifty Stones Capital Group through a local broker.
The sponsor, an experienced local developer with a focus on multifamily and senior care, had already invested over $4.2 million of their own capital. This included acquiring the land without any debt and completing horizontal site improvements, leaving the site shovel-ready for construction. The development is adjacent to the sponsor’s existing, profitable seniors housing community, creating operational synergies.
Fifty Stones Capital Group structured a flexible, hard money construction loan to ensure timely project execution. The financing has a competitive interest rate, a term designed to cover construction and lease-up periods, milestone-based draws tied to progress inspections, and interest reserves to cover debt service during construction. The loan was non-recourse with personal guarantees from the sponsor.
