RED Leads $36.4M Construction Loan for Homestead Senior Living

RED Leads $36.4M Construction Loan for Homestead Senior Living

Homestead Senior Living received financial help for a 195-unit senior housing community.

RED Capital Partners LLC recently arranged a $36.4 million first mortgage construction loan for Homestead Senior Living LLC. The balance of the capital stack was provided by an institutional private equity group and Regional Capital Group, which will provide EB-5 financing along with sponsor’s equity.

The joint venture between Pike Senior Housing Partners LLC and Solvere Senior Living is set to develop the 195-unit Class A seniors housing community located in Hamilton. Dubbed Homestead at Hamilton, the community will include 96 independent living units, 75 assisted living units and 24 memory care units.

“The creativity, flexibility and perseverance of the entire RED team was outstanding.  This transaction presented unique challenges through the underwriting process,” said David Weiner, principal, Pike Seniors Housing Partners LLC.

The project has a complex capital structure, including an interim, bridge-to-EB-5, mezzanine lender. Through creative structuring, RED Capital Partners worked closely with the borrower and other credit partners to achieve maximum flexibility due to the timing and uncertainty of the EB-5 program.


https://www.multihousingnews.com/post/red-leads-36-4m-construction-loan-for-homestead-senior-living/

States

  • Ohio


Securities Disclaimer

This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.