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1361 Lake Drive West

Updated Mar 5, 2025

Bellwether Enterprise Secures $20.05 Million Refinance Loan For Senior Housing In Chanhassen
FINANCEDSenior Housing

Bellwether Enterprise Secures $20.05 Million Refinance Loan For Senior Housing In Chanhassen

1361 Lake Drive West

$20,052,000

Units

110

Asset Type

Senior Housing

Closing

Feb 12, 2025

About this deal

AI

The asset involved is a 110-unit senior housing property located at 1361 Lake Drive West in Chanhassen, MN. The property is a luxury active adult community designed for senior living. A refinance loan of $20,052,000 was secured to replace a high-interest construction loan, aligning with affordable housing initiatives through a TIF agreement for 50 of its units.

Summary of transaction details:

  • Property Type: Senior Housing
  • Transaction Amount: $20,052,000
  • Loan Type: Refinance
  • Loan Terms: 10-year term with a 35-year amortization period and five years of interest-only payments
  • Lender: Bellwether Enterprise (BWE)
  • Landlord: Craig Hanson - Silver Creek Equity
  • Broker: Lundat Kassa - Bellwether Enterprise (BWE)

The transaction involved key individuals and companies, specifically Craig Hanson of Silver Creek Equity, who acted as the landlord for the property. The financing was facilitated by Lundat Kassa, representing Bellwether Enterprise (BWE) in the deal, ensuring the refinancing aligns with the property’s long-term financial strategy.

Players

Lundat Kassa

Bellwether Enterprise (BWE)

Broker

$26.4M

vol

2 deals

Broker
Bellwether Enterprise (BWE)
Bellwether Enterprise (BWE)Lender

Chanhassen Senior Housing Market Snapshot

Boundary boundary · Senior Housing · Loan transactions

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Deal FAQ

About $182.3K per unit across 110 units on a published $20.1M (2025).

Visit Lundat Kassa to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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