IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), specializing in capital markets services for major private and institutional clients, announced today the $25,528,821 financing of Meadowview of Fayetteville, a 117-unit senior living complex in Fayetteville, Arkansas.
Frank Montalto, managing director in IPA Capital Markets’ Chicago office, secured the financing with a local bank on behalf of a private developer.
“Senior Housing has been a challenged asset class since the pandemic,” says Montalto. “By leveraging our deep relationships with the regional banking community, we were able to secure 70% leverage, something unique and advantageous for this project.”
Terms of the construction loan include a 5-year term and 70% loan-to-cost at SOFR + 3.10%.
The ground-up development will feature 60 independent living apartments and 57 assisted living apartments. Amenities will include a fireplace lobby, beauty/barber shop, fitness/yoga studio, theater, two spas and more.
About IPA Capital Markets
IPA Capital Markets is a division of Marcus & Millichap (NYSE: MMI). IPA Capital Markets provides major private and institutional clients with commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, and sponsor equity. For more information, please visit institutionalpropertyadvisors.com/capital-markets
