Greystone Arranges $50M Construction Financing for Aspens Communities in Arizona, North Carolina

The Aspens at Bedford Falls The Aspens at Bedford Falls

RALEIGH, N.C., and GILBERT, Ariz. — Greystone has arranged $50 million in financing for the construction of two seniors housing communities. The borrower was Fort Worth, Texas-based developer Aspens Senior Living.

A publicly traded bank provided a $25.8 million loan for the construction of The Aspens at Mariposa Point in the Phoenix suburb of Gilbert. The community is restricted to residents age 55 and older, and will feature 204 units.

The project is a joint venture between Aspens Senior Living, McFarlin Group and Pennybacker Capital. Construction began on the community in May 2017.

A regional bank provided a $24.2 million loan for the construction of The Aspens at Bedford Falls in Raleigh. The community is restricted to residents age 62 and older, and will feature 182 units.

The project is a joint venture between Aspens Senior Living and Pennybacker Capital. Construction began on the community in July 2017.

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