$34MM Senior Loan – Construction Financing
New construction loan request for 130-unit Class-A senior housing property (assisted living and memory care) located in Thousand Oaks, CA.
- Rare development opportunity in high barrier to entry market
- Limited comparable properties in the area to provide rental and sale comp data
- Sponsor had limited experience in developing this product type
Dekel Capital identified a money-center bank lender that was able to understand the competitive advantages of the property location and strength of the sponsorship team. Dekel also sourced mezzanine financing options, but sponsor chose to capitalize the deal with equity.