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YORKTOWN, Va. — Grandbridge Real Estate Capital’s Seniors Housing and Healthcare Finance Team has arranged a $13.7 loan through BB&T bank for the construction of The Crossings on the Peninsula, a new seniors housing community in southeast Virginia.
When completed, the community will feature 104 units of assisted living and memory care in 86,000 square feet. The borrower was Virginia-based seniors housing developer Smith/Packett Med-Com LLC. Harmony Senior Services LLC will operate the community.
Richard Thomas, Grandbridge senior vice president, and Meredith Davis, vice president, coordinated the transaction with Neal Lineberry, BB&T senior vice president.