Cathy Marcus Of PGIM Real Estate Provides $50M Loan For 160-Unit Senior Housing In Evanston

The asset involved in this transaction is a senior housing property known as Trulee Evanston, located at 1815 Norwood Court in Evanston, IL. This facility, developed in 2021, consists of 160 units and provides various living options such as independent living, assisted living, and memory care, along with upscale amenities. The transaction includes a loan amount of $50,000,000, structured as a floating-rate loan.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $50,000,000
• Lender: Cathy Marcus - PGIM Real Estate
• Landlord: Adam Kaplan - Solera Senior Living
• Landlord: Jon Martin - AEW Capital Management
• Units: 160
• Market: Evanston
• Loan Terms: floating-rate

This transaction was facilitated by PGIM Real Estate, which provided financing specifically for AEW Capital Management and Solera Senior Living. The involvement of Cathy Marcus, representing PGIM Real Estate, highlights the key role of lenders in supporting senior living developments such as Trulee Evanston.