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Ziegler Arranges $61.3M Bond Financing For Aldersly Garden Retirement Community In San Rafael
FINANCED
$61,300,000
California
See Similar DealsSenior Housing
Financed 06/19/2023
FINANCED
Ziegler Arranges $61.3M Bond Financing For Aldersly Garden Retirement Community In San Rafael
326 Mission Ave San Rafael, CA 94901, USA
See Similar DealsSenior Housing
Financed 06/19/2023
Summary
CALIFORNIA
Asset Type:Senior Housing
Transaction Type:Loan
The California Municipal Finance Authority has provided a loan of $61,300,000 for the construction of a 35-unit residential care facility at Aldersly Garden Retirement Community in San Rafael. The facility will offer larger apartments and additional amenities, and it is located at 326 Mission Avenue on a 3.5-acre plot of land.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $61,300,000
- Address: 326 Mission Avenue
- Market: San Rafael
- Loan Terms: 30-year
- Lender: California Municipal Finance Authority
- Landlord: Aldersly - Peter Schakow & Shannon Brown
- Broker: Daren Bell - Ziegler
Daren Bell from Ziegler represented the parties involved in this loan transaction. The bond financing arranged by Ziegler will contribute to the development of the residential care facility at Aldersly Garden Retirement Community, bringing improved housing options for seniors in San Rafael.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$61,300,000.00
Monthly NOI$408,666.67
Monthly Debt Service$387,457.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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