DALLAS — Connecticut-based investment bank HJ Sims has closed on $186.5 million in financing for Legacy Midtown Park, a 325-unit continuing care retirement community in Dallas that broke ground over the summer.
Individual components of the financing package include $69.9 million in underwritten bonds, $70.5 million in financing and $14 million in subordinate financing.
The property will offer independent living, assisted living and memory care units. The borrower was Legacy Senior Communities, a Plano-based nonprofit organization that will also manage the property.
Services at Legacy Midtown Park will become available in phases over 2019 and 2020.