Maxwell Group Secures $37M for South Carolina Senior Community
- Sep 11, 2020
Maxwell Group Inc. has received a $37.1 million loan to refinance Wellmore of Daniel Island, a 186-unit luxury senior community providing assisted living, memory care and skilled nursing services in Charleston, S.C., according to Seniors Housing Business.
Working on behalf of the borrower, Cushman & Wakefield Senior Housing Capital Markets arranged the financing from Truist Financial.
Opened in 2018 at 580 Robert Daniel Drive, the 198-bed community houses studio, one- and two-bedroom apartments, as well as memory care private and skilled nursing semiprivate rooms. Amenities include a $3 million on-site wellness center with an indoor, heated therapy pool and aerobic/fitness rooms and a clubhouse with a restaurant, salon and spa. The property also features courtyards, libraries and gathering rooms.
The 10-acre property is roughly 14 miles from downtown Charleston near Interstate 526, just south of Daniel Island Park Club.
Cushman & Wakefield’s Richard Swartz, Tim Hosmer and Chris Remeika were part of the team that closed the financing deal. Swartz and Hosmer were also involved in the $19.8 million refinancing of an 88-unit, 92-bed assisted living and memory care community in Rock Hill, S.C.