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Stephanie MacLean And James Rivard Secure $65M Loan For 199-Unit Senior Housing At Ivy Park

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FINANCED
$65,000,000
Ryan Stoll
Taylor Mokris

California

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Senior Housing205,000 SF
Financed 08/06/2025
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Property Image
FINANCED

Stephanie MacLean And James Rivard Secure $65M Loan For 199-Unit Senior Housing At Ivy Park

80 Cedar Way

See Similar Deals
Senior Housing205,000 SF
Financed 08/06/2025
Ryan Stoll
Taylor Mokris
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Senior Housing
Price Per Square Foot:$317
Total Square Footage:205,000 SF
Transaction Type:Loan

The property involved in this transaction is a senior housing community located at 80 Cedar Way, Milpitas. The asset encompasses 205,000 square feet and includes 199 units, specifically designed for senior living.

Summary of transaction details:

  • Property Type: Senior Housing
  • Transaction Amount: $65,000,000
  • Lender: Poppy Bank
  • Landlord: Stephanie MacLean - Blue Mountain Enterprises; James Rivard - SRM Development
  • Brokers: Ryan Stoll & Taylor Mokris - BWE
  • Loan Terms: five year, interest-only

The loan amount of $65 million was arranged by BWE for the Ivy Park at Milpitas development. Oakmont Management Group operates the property, which supports lease-up and long-term operations through this financing arrangement.

Players

Ryan Stoll
Bellwether Enterprise (BWE)
Ryan Stoll
9 deals$709.1M volume(913) 940-0075
BROKER
Taylor Mokris
Bellwether Enterprise (BWE)
Taylor Mokris
9 deals$709.1M volume(704) 659-5636
BROKER
Bellwether Enterprise (BWE)
Bellwether Enterprise (BWE)
BROKERAGE
Poppy Bank
Poppy Bank
LENDER

Details

FINANCED
IMAGE: Stephanie MacLean, James Rivard, Ryan Stoll & Taylor Mokris DATE: 08/06/2025 ADDRESS: 80 Cedar Way MARKET: Milpitas ASSET TYPE: Senior Housing ~ SF: 205,000 ~ UNITS: 199 LENDER: Poppy Bank (@Poppy.Bank) LANDLORD: Stephanie MacLean - Blue Mountain Enterprises; James Rivard - SRM Development BROKERS: Ryan Stoll & Taylor Mokris - BWE (@BWE_Bellwether) LOAN AMOUNT: $65,000,000 LOAN TERMS: five year, interest-only NOTE: BWE arranged $65M in bond financing for Ivy Park at Milpitas, a 199-unit senior housing community developed by Blue Mountain Enterprises and SRM Development, with Oakmont Management Group operating the property. The 15-year loan, backed by Poppy Bank, includes five years of interest-only payments and supports lease-up and long-term operations.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$65,000,000.00

Monthly NOI$433,333.33
Monthly Debt Service$410,844.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00