Updated Mar 11, 2025
Ziegler Arranges $61.3M Bond Financing For Aldersly Garden Retirement Community In San Rafael
326 Mission Ave San Rafael, CA 94901, USA
$61,300,000
Units
35
Asset Type
Senior Housing
Closing
Jun 19, 2023
About this deal
AI
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.
On the Map
$61,300,000
Senior Housing
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93