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MONUMENT, Colo. — Walker & Dunlop Inc. has structured a $28.2 million construction loan for Jackson Creek Senior Living, a 137-unit assisted living facility in Monument, located between Denver and Colorado Springs.
The borrower is the project’s developer, an affiliate of CSI Construction.
Scheduled to open in late 2018, Jackson Creek Senior Living will include a three-story, 128,600 square-foot building with 80 assisted living, 30 memory care and 27 independent living units. The asset is located on 6.4 acres of land.
Ralph Lowen arranged the HUD loan at 90 percent of total replacement cost . The financing features 18-months of interest-only payments during the construction period, followed by a 40-year, fully amortizing permanent loan.