North Dallas Senior Community Lands $38M Refi
JLL Capital Markets represented the borrowers.
A partnership between CREC Real Estate and Madison Marquette has secured $37.5 million in refinancing for Hidden Springs of McKinney, a 194-unit senior housing community in McKinney, Texas.
JLL Capital Markets arranged the package originated by Western & Southern Financial Group, according to Collin County records. The non-recourse, fixed-rate note features a five-year maturity period with extension options included.
The JLL Capital Markets team included Senior Director Joel Mendes and Associate Jason Skalko.
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Located at 6421 McKinney Ranch Parkway, the community features independent living, assisted living and memory care units. The 2020-built property offers various services, such as housekeeping, scheduled transportation, concierge as well as flat linen service among others.
Hidden Springs of McKinney includes an art studio, a movie theater, a computer lab, a heated indoor swimming pool, a fitness center, a salon, multiple dining options, an outdoor covered patio, landscaped courtyards and a dog park.
The property is less than 2 miles away from Katherine B. Winniford Park, less than 3 miles away from the Eldorado Parkway retail corridor and McKinney District-wide Stadium. Downtown Dallas is some 30 miles south.