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AEW, REDICO JV secure $47m for senior housing community in Chicago
Transactions - JUNE 11, 2025

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AEW, REDICO JV secure $47m for senior housing community in Chicago

by Denise Moose

A joint venture between affiliates of AEW Capital Management and REDICO have secured $47 million in financing to refinance American House Oak Park, a recently built 174-unit, seven-story class A senior housing community located in the Oak Park neighborhood of Chicago. Canyon Partners Real Estate provided the financing and Newmark facilitated the transaction.

American House Oak Park features a range of senior living options, including 74 independent living units, 65 assisted living units and 35 memory care units. The property features class A community amenities, including a rooftop lounge with city views, green roof terraces, various dining and fitness options, as well as a salon, game room, art studio and cinema-style theater.

Located in the first-ring Chicago suburb of Oak Park, residents of the property have access to a variety of retail amenities, including Whole Foods Market and Trader Joe’s, as well as medical facilities that include West Suburban Medical Cente

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