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FAYETTEVILLE, Ark. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $25.5 million in construction financing for Meadowview of Fayetteville, a 117-unit senior living complex in Fayetteville.
Frank Montalto, managing director in IPA Capital Markets’ Chicago office, secured the financing with a local bank on behalf of a private developer.
Terms of the construction loan include a floating rate, five-year term and 70 percent loan-to-cost ratio.
The ground-up development will feature 60 independent living apartments and 57 assisted living apartments.