Deal: Reverie at Silver Creek
Location: Puyallup, WA
Collateral: A single story, 53 -unit, senior living community. Amenities include a clubhouse, walking paths, dog parks, attached one car garages, specialized interiors and appliances, al-la-cart in home healthcare services, and more.
Purpose: This loan was secured to construct a 53-unit “Aging in Place” senior living community in Puyallup. The borrower wanted to secure a construction-to-permanent loan that will eliminate the need for the additional cost of securing a permanent loan once the property stabilizes.