Joint Venture Obtains $34M Refi for Delaney at Parkway Lakes

Blue Moon Capital Partners and partner Life Care Services (LCS) obtained $34 million in financing for Delaney at Parkway Lakes, a 207-unit senior housing complex in Richmond, TX on the Houston metro’s far west side. The financing, arranged by CIT Group Inc., will be used to refinance construction debt on the property.

The recently-opened asset, situated on 10 acres at 21700 Bellaire Blvd., is a rental retirement community with independent and assisted living, and memory care. It is part of the master-planned Parkway Lakes development, adjacent to Cinco Ranch and Katy, TX. CBRE’s Aron Will and Austin Sacco arranged the five-year, floating-rate loan, with 36 months of interest-only payments.

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