Marcus & Millichap Capital Corporation has closed more than $17.4 million in financing for the construction of Sycamore of River Falls, a seniors housing property at 706 Sycamore St. in River Falls, Wisconsin.
The financing was exclusively arranged by MMCC’s Michael Hughes, vice president, based out of the Milwaukee office.
The loan has an 84-month term, LTV of 70 percent and an interest rate of 3.7 percent.
The property consists of a three-story main building that contains 85 units, broken down into 16 memory care units, 39 independent units and 30 assisted living units. There are also two duplex buildings that feature four independent units and 50 underground parking spaces.
The property includes conference and dining rooms, a full commercial kitchen, fitness center, entertainment room, medical consulting room, a laundry room, a spa room with a therapy tub, a bocce ball court and a gazebo. The property is located near the town’s Main Street and is in close proximity to green spaces such as Glen Park and local universities and businesses.
