Hunt Real Estate Capital arranged debt financing for the recapitalization of Monarch Landing and Sedgebrook, two Class A entrance fee life plan communities consisting of nearly 1,000 units located in Naperville and Lincolnshire, Illinois respectively.
Hunt Real Estate Capital’s senior housing and healthcare team worked closely with Senior Care Development (SCD) and its institutional partner to run a competitive process that yielded a number of financing options. After careful consideration of the proposals, 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.
“We have worked with James 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,” noted Brett Mehlman, Chief Operating Officer at Senior Care Development.
“We truly appreciate the trust that Senior Care Development and its partners placed in us to arrange debt for this important recapitalization,” commented James Scribner, Managing Director of Seniors Housing & Healthcare at Hunt Real Estate Capital. “Time was of the essence and certainty of execution was imperative. It was great to once again deliver for the SCD team.”