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

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.