Hunt Delivers $80M for Pair of Chicago-Area Life Plan Communities
New York-based Hunt Real Estate Capital arranged more than $80-million in debt financing for the recapitalization of a pair of Class A life plan communities in suburban Chicago. The properties include Monarch Landing and Sedgebrook (pictured), two communities consisting of nearly 1,000 units located in Naperville and Lincolnshire, IL respectively.
Hunt’s senior housing and healthcare team worked closely with Harrison, NY-based Senior Care Development and its institutional partner to run a competitive process that yielded a number of financing options. The borrower ultimately chose to separate the assets and finance them individually with two fully-underwritten bank loans, which eliminated syndication risk and met their timing needs.
Senior Care Development’s Brett Mehlman says, “We have worked with James [Scribner] and his team on a number of transactions over the years. This was a very complex transaction, and James was instrumental in navigating through it. He is a trusted partner and advisor for us.”
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