RED Closes $8.8M Construction Loan for Lakewood Memory Care in Colorado

by Jeff Shaw

LAKEWOOD, Colo. — RED Capital Partners LLC, the proprietary debt and equity banking arm of comprehensive capital provider RED Capital Group LLC, has completed an $8.8 million balance sheet construction loan to Milestone Retirement, the Crystal Group and Taylor Fitzpatrick Capital for the construction of Lakewood Memory Care, a Class A development located just outside of Denver.

The loan will support the construction of the single-story building containing 46 memory care units, with 52 beds (40 private studios and six semi-private studios). The general contractor for the project will be Brinkman Partners.

Milestone Retirement Communities LLC will manage and operate the memory care facility. Based in the Pacific Northwest, Milestone operates 27 communities representing over 2,700 units concentrated in the western states of California, Oregon, Washington, Colorado, Idaho, Arizona and Nevada.

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