May 24, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $42.9 million in construction financing for HarborChase of the Park Cities, a 134-unit, luxury assisted living and memory care community in North Dallas’ Preston Center.
HFF worked exclusively on behalf of a joint venture between Silverstone Healthcare Company (Silverstone) and L&B Realty Advisors, to place the four-year, floating-rate construction loan with Texas Capital Bank and Guaranty Bank & Trust. Silverstone’s operating partner, Harbor Retirement Associates (HRA), will manage the property under the HarborChase brand.
HarborChase of the Park Cities will be located at 5905 Sherry Lane in Preston Center directly southeast of the intersection of the Dallas North Tollway and Northwest Highway (Loop 12) and approximately 6.3 miles north of Dallas’ central business district. The affluent Preston Hollow and Park Cities neighborhoods border the property to the north and south respectively. Due for completion in 2017, HarborChase of the Park Cities will have 105 assisted living and 29 memory care units. Property amenities will include a restaurant-style dining room, salon, lounges, balconies and wellness room.
The HFF debt placement team was led by director Jim Curtin, senior managing directors Ryan Maconachy and Chad Lavender and associate director Sarah Baccich.
[button href=”https://www.hfflp.com/media-center/press-releases/140841/hff-secures-42-9-million-financing-for-development-of-dallas-seniors-housing-com.aspx” style=”emboss” size=”medium” color=”#000000″ target=”_blank”]Source: HFF[/button]