Stellar Senior Living Secures $22 Million Loan For Senior Housing In Scottsdale, Arizona

The Springs of Scottsdale is a 143-unit senior living facility located at 3212 North Miller Road in Scottsdale, Arizona. The asset type is classified as senior housing, and it has secured a loan amount of $22 million. The property is situated in a market that focuses on senior living solutions.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $22,000,000
• Loan Amount: $22,000,000
• Loan-to-Value Ratio: 60%
• Interest Rate: 6.05%
• Amortization Schedule: 27 years
• Loan Term: 5 years
• Landlord: Stellar Senior Living
• Broker: Paul Winterowd - Marcus & Millichap

Marcus & Millichap Capital Corporation (MMCC) played a crucial role in securing the financing for The Springs of Scottsdale on behalf of Stellar Senior Living. The loan was provided by a national life insurance company, showcasing the collaborative efforts of the entities involved in facilitating this transaction.