Harborview Arranges $24.6M Financing for Two Assisted Living Communities in Southeast

by Jeff Shaw

SEBASTIAN, Fla., and MACON, Ga. — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a total of $24.6 million in financing for assisted living communities in Sebastian and Macon.

In the first transaction, Harborview arranged an $18.6 million construction loan for a 123-unit assisted living and memory care facility in Sebastian. The site contains close to seven acres of land area.

A Georgia-headquartered bank provided the capital to a joint venture between a New Jersey-based developer and a Florida-based operator. The loan features interest-only payments for 42 months followed by a 25-year amortization. There are no pre-payment penalties.

In the second transaction, Harborview arranged a $6 million refinancing for an 81-unit assisted living and memory care community in Macon. The five-year, non-recourse loan features 12 months of interest-only payments.

Harborview financed the borrower’s acquisition of this facility in 2015, followed by $400,000 in capital improvements and a change of operator. This is the third transaction Harborview has arranged for the Chicago-based borrower.

Jeffrey Fuchs arranged both transactions.

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