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MILWAUKEE and WEST FARGO, N.D. — BMO’s Healthcare Real Estate group has provided a $70 million bridge loan for a joint venture between New Perspective Senior Living, Boldt Capital and Fengate Asset Management.
The loan is secured by three senior living communities totaling 435 units located in suburban Milwaukee and West Fargo.
Loan proceeds include capital allocated for future capital improvements and value enhancement. Further details were not disclosed.