MCKINNEY, Texas — JLL Capital Markets has arranged a $37.5 million refinancing for Hidden Springs of McKinney, a 194-unit independent living, assisted living and memory care community in McKinney, a growing submarket in the Dallas-Fort Worth area.
The borrower was a joint venture between CREC Real Estate and Madison Marquette. A life insurance company provided the non-recourse, fixed-rate loan, which features a five-year term with extension options.
Completed in 2020, Hidden Springs of McKinney is approximately 30 miles northwest of Dallas anf 15 miles west of Frisco.
Joel Mendes and Jason Skalko led the JLL Capital Markets Debt Advisory team representing the borrower.