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April 18, 2021
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MULTIFAMILY NEWS
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Rancho Cucamonga Senior Housing Facility Lands $31 Mil Refi Loan

3/30/21

Merrill Gardens Rancho Cucamonga, a 112-unit senior housing community in Rancho Cucamonga was just refinanced with a new permanent fixed-rate loan for $31 mil.

Built in 2018, the state-of-the-art independent living, assisted living and memory care facility is owned by a joint venture between. The property sits on 4.21 acres at 9942 Highland Ave, in the heart of Rancho Cucamonga.

The loan, structured prior to stabilization, has a five-year term based on a 30-year amortization schedule. Stuart Oswald and Gordon Mickelson with NorthMarq arranged the loan, which was funded through a life insurance company.




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