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

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.