HFF Secures $42.9M Loan for Luxury Senior Housing Community in Dallas
- May 26, 2016
Dallas—HFF recently secured a $42.9 million construction loan for a 134-unit, luxury assisted living and memory care community. The upscale senior housing community HarborChase of the Park Cities is set for completion in 2017.
HFF worked exclusively on behalf of a joint venture between Silverstone Healthcare Co. and L&B Realty Advisors, to place the four-year, floating-rate construction loan with Texas Capital Bank and Guaranty Bank & Trust. Silverstone’s operating partner, Harbor Retirement Associates (HRA), will manage the property under the HarborChase brand.
Located at 5905 Sherry Lane, HarborChase of the Park Cities will feature 105 assisted living and 29 memory care units. The property sits directly southeast of the intersection of the Dallas North Tollway and Northwest Highway (Loop 12) and approximately 6.3 miles north of Dallas’ central business district. Community amenities include a restaurant-style dining room, salon, lounges, balconies and wellness room.
Jim Curtin, director, along with Ryan Maconachy and Chad Lavender, senior managing directors, and Sarah Baccich, associate director, led the HFF debt placement team.
Rendering courtesy of Silverstone Healthcare Co.