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4/18/18
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American Care Concepts has obtained a $17 mil Freddie Mac loan for American Orchards, a community offering assisted living and memory care services in Gilbert, AZ.
Completed in June 2016, American Orchards consists of two distinct buildings: The Sapwood Building with 38 assisted living suites and The Heartwood Building with 35 memory care suites. The property has nurses on-site 24 hours a day and offers an enriching environment with wraparound porches, large windows and skylights for natural light and nature views, on-site library, indoor and outdoor dining areas, and a proprietary wellness program called Soul Purpose. American Orchards is situated near historic Downtown Gilbert, highly-regarded hospitals, and Freestone Park.
Kevin Giusti, Jeff Ringwald, and Bill Jackson with Walker & Dunlop structured the 10-year, non-recourse financing with two years of interest-only payments at an attractive interest rate. This structure enabled the client to pay off the existing bank debt and cash out a sizeable amount of equity for future projects.
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