2 months ago
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HENDERSON, Nev., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Parkway International Capital Group (PIC Group) has successfully closed a $17.5 million refinance loan for a premier senior living development in Henderson, Nevada, demonstrating its expertise in large-scale, customized financing solutions.
Why the Borrower Chose PIC Group
The borrower, a leading healthcare and senior living developer with over $500 million in completed projects, selected PIC Group for its:
* Industry Expertise: Proven success in senior living financing
* Efficient Execution: Closing within 20 days
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* Tailored Solutions: Structuring that delivered cost savings and flexibility
Addressing Growing Market Demand
The project, a 150-unit senior living community with independent living, assisted living, and memory care services, meets rising demand in Henderson, where the senior population continues to grow. This aligns with a projected 44% increase in demand for senior housing by 2030 (NIC data).
Financial Highlights
* Loan Amount: $17.5 million
* Loan Term: 36 Months, up to 5 years amortization
* Interest Rate: Fixed at 8.98%
* Loan-to-Value (LTV): 75%, ensuring liquidity and equity balance
The refinance reduced the borrower's annual debt service by $450,000 and provided capital for future projects.
About Parkway International Capital Group
PIC Group specializes in innovative commercial financing for high-value projects, partnering with clients to deliver tailored solutions and exceptional results.
Media Contact
Marvin Fincham
Visit our website at pic-group.net
Email us at [email protected]
