Wisconsin IL/AL/MC Development Secures C-PACE Financing
Nuveen Green Capital partnered with repeat sponsor, North Town Partners, to provide $10.6 million in C-PACE financing as part of the $55 million project cost for a planned seniors housing community in Sheboygan, Wisconsin. C-PACE will be utilized to fund key energy and water efficiency measures. By leveraging C-PACE’s accretive capital, North Town Partners was able to fill a gap in its capital stack, lowering its overall project costs. The project is being jointly developed by DMK Development Group, North Town Partners and Charter Senior Living. Charter Senior Living Sheboygan will comprise 182 independent living, assisted living and memory care units. The community will stand three... Read More »
Financing Enables Construction to Resume on NJ Active Adult Development
Procida Funding & Advisors secured a $140 million loan for The Plaza Grande, an active adult development in Cherry Hill, New Jersey, with 507 units. Madison Realty Capital and Pearlmark provided the financing. Madison Realty previously provided a construction loan for the project in 2021. Additionally, Procida Funding has worked with Madison Realty on several construction loans. The flexible, customized financing supports the completion and leasing of The Plaza, which has been 20 years in the making. Development began in 2004 under Turnberry Homes as part of a plan to repurpose the former Garden State Park racetrack. But development was halted with around 250 units unfinished, until... Read More »
Active Adult Community Secures Construction Financing
Berkadia announced the construction financing of Mera Lawrenceville, a 200-unit active adult community in Lawrenceville, Georgia. Austin Sacco, Steve Muth and Garrett Sacco secured the construction financing through Texas Capital Bank on behalf of a joint venture sponsored by Sparrow Capital Partners. The community, 30 miles northeast of downtown Atlanta, is located in a master planned, by-right site in a high-barrier-to-entry market and is in close proximity to Primary Care Center of Georgia, multifamily homes and retail. Read More »
Development Underway for New Fairfield County CCRC
A new CCRC is under construction in our backyard in Stamford, Connecticut (figurative backyard from our headquarters in New Canaan). Mozaic Senior Life (formerly Jewish Senior Services) is building Mozaic Concierge Living, a CCRC that will offer 168 independent living units, along with assisted living, memory care and skilled nursing. The project has been years in the making and is the product of a coordinated effort between Mozaic, development consultant Greenbrier and investment banking firm HJ Sims (another Fairfield County firm). Greenbrier has supported the development from early site evaluation and financial modeling through sales strategy and design. They will also take on a... Read More »
Planned Florida Community Lands Bond Backing
JLL Securities and HJ Sims, in collaboration with JLL Capital Markets’ Seniors Housing team, arranged $134.26 million of senior series 2025A bonds for a seniors housing community that will be built in Orlando, Florida. The publicly offered, tax-exempt financing has a final maturity of 40 years. Greg Fawcett of JLL Securities, Aaron Rulnick, Kerry Lewandowski and Brady Johnson of HJ Sims, and Alanna Ellis and Timothy Hosmer of JLL Capital Markets’ Seniors Housing team originated the financing. The borrower was Trinity Community Development Foundation, a not-for-profit entity formed by Trinity Broadcasting Network. This transaction marked the start-up senior living enterprise’s entrance... Read More »Schedule a demo
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