January 17, 2019
HFF has arranged financing for the development of Deerfield Senior Residences, a 240-unit, six-story, luxury independent living community in the northern Chicago suburb of Deerfield, IL.
An HFF team of Matthew Schoenfeldt and Sarah Anderson worked on behalf of affiliates of Banner Senior LLC, the managing partner of a joint venture partnership that is developing the facility, to arrange JV equity through Harrison Street. Additionally, HFF worked on behalf of the new partnership to secure a $55.6 million, four-year, floating-rate construction loan through a national bank.
Deerfield Senior Residences will be located on a 5.17-acre parcel adjacent to the Weinberg Campus for Senior Living (pictured), which is currently home to 125 fully-occupied assisted living units and 40 memory care units. Due for completion in the summer of 2020, the new independent living component will complement the existing facilities and will provide a continuum of care for area seniors.
For comments, questions or concerns, please contact Paul Bubny