KENSINGTON, Md. — Prudential Mortgage Capital Company, the commercial mortgage lending business of Prudential Financial, Inc. (NYSE: PRU), has provided a $41 million loan to Fountain Square Properties to refinance Kensington Park, a Class A independent, assisted and memory care community located in Kensington, Md.
Memory Care
TUSCON, Ariz. — Berkeley Point recently closed the refinancing of Copper Canyon Alzheimer’s Special Care Center, a 66-bed Alzheimer’s care community located in Tucson, Ariz. The cash-out refinancing was structured as a fixed-rate Fannie Mae 10- year loan term with a period of interest only.
ST. AUGUSTINE, Fla. — Capital Health Group, LLC and Fortress Ventures, LLC have formed a joint venture to develop a 64-bed, market-rate memory care community on 9 acres of land located at 840 State Road 16 in St. Augustine. The land was purchased by the venture in December and the new facility is scheduled to open in the second quarter of 2016.