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BWE Arranges $65M Bond for Luxury Milpitas Senior Living
BWE arranged a $65-million bond financing for Ivy Park at Milpitas, a 199-unit luxury senior living community located in Milpitas. Ryan Stoll, national director of seniors housing and care, and Taylor Mokris, SVP of seniors housing and care at BWE, arranged the financing.
The financing was secured on behalf of a joint venture between Blue Mountain Enterprises and SRM Development, with Oakmont Management Group managing the community. It was structured as a 15-year bond issuance, credit-enhanced by a letter of credit from Poppy Bank and featuring five years of interest-only payments along with a favorable covenant structure.
“This was a complex transaction requiring coordination across multiple stakeholders, and we’re proud to have delivered a tailored capital solution that positions Ivy Park at Milpitas for long-term success,” said Stoll. “Oakmont’s operational improvements and deep local expertise helped make this financing possible. Their leadership continues to enhance performance and elevate the resident experience.”
- ◦Financing
