RED Arranges $36.4M Construction Loan for 195-Unit Community in New Jersey

by Jeff Shaw

HAMILTON, N.J. — RED Capital Partners LLC, the debt and equity banking arm of capital provider RED Capital Group, has arranged a $36.4 million first mortgage construction loan for Homestead Senior Living LLC to build Homestead at Hamilton, a 195-unit independent living, assisted living and memory care community in Hamilton.

A joint venture of two New Jersey-based companies — Pike Senior Housing Parners LLC and Solvere Senior Living — is developing the Class A community.

When complete, Homestead at Hamilton will feature 96 independent living units, 75 assisted living units and 24 memory care units, all located about an hour from New York City.

Regional Capital Group will provide EB-5 financing for the loan, and an institutional private equity group will also provide capital for the loan.

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