SOUTH PORTLAND, Maine — Cushman & Wakefield Senior Housing Capital Markets has arranged the equity and financing for construction of HarborChase of South Portland.
Confluent Senior Living, a subsidiary of Denver-based real estate investment firm Confluent Development, will develop and own the property. Harbor Retirement Associates is the co-developer for the project and will operate the community upon completion.
The property will feature 123 units of assisted living and memory care. Construction is slated for completion in summer 2021.
M&T Bank provided an undisclosed amount of construction financing. A private equity investor also provided joint venture equity for the development.
The Cushman & Wakefield team involved in the transaction included Richard Swartz, Jay Wagner, Tim Hosmer and Sam Dylag.