DENVER — A joint venture between Blue Moon Capital Partners LLC, MGL Partners and a subsidiary of Leisure Care are developing a 169-unit independent living, assisted living and memory care community in the Denver Tech Center neighborhood of Denver.
The partnership brings together Boston-based Blue Moon, an investor focused exclusively on seniors housing; Denver-based MGL, a multifamily and seniors housing developer; and Seattle-based Leisure Care, an operator of 39 seniors housing communities.
CBRE secured a $28.7 million, non-recourse, floating-rate loan to fund the development. The loan includes a six-year term with 48 months of interest-only payments. The loan was procured from a regional bank.
Construction is slated for completion in 2018.