Traditions at Rivertown wyoming michigan

January 18, 2019 Comments Off on Michigan Senior Housing Project Receives Construction Financing Views: 2989 Michigan, Midwest, National News

Michigan Senior Housing Project Receives Construction Financing

Redstone Group Management, Inc. secured $24.8 million in construction financing for Traditions at Rivertown, a senior housing complex in Wyoming, MI, a suburb of Grand Rapids. The 150-unit, Class A property has dedicated units for independent living, assisted living, and memory care.

The property is scheduled to be completed in November 2019, and will feature amenities such as a library, bar and entertainment space, theater, fitness center, underground parking, coffee bar/bistro, lounge, and activity areas.

Walker & Dunlop’s Benjamin Krosin, Jeff Schmidt, Tim Cotter, and Russell Dey partnered with Inner Circle Holdings’ Kari Zapolski to structure the five-year construction loan with three years of interest only with a regional bank.

Redstone Group’s Gary Hensch says, “We are excited to build a high-end senior housing property that will address a significant need in the Grand Rapids market area.”

Connect With Redstone Group’s Hensch

Connect With Walker & Dunlop’s Krosin

Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Tags: , , , ,

Comments are closed.

Send this to a friend