Chicago Pacific Founders, Grand Park Capital secure $115m bridge financing for independent living portfolio

Chicago Pacific Founders and Grand Park Capital have secured $115 million in bridge financing for Town Village Portfolio, a primarily independent living portfolio that consists of four assets, totaling 852 units spanning across Alabama, Tennessee, Oklahoma and Michigan.

JLL represented the borrowers in arranging the three-year, non-recourse loan through Ally Bank.

The properties were built between 2000 and 2002 and have all undergone renovations by the sponsor. Unit amenities include full utilities, private bathrooms, walk-in showers, attached patios, vinyl and carpeted flooring, and built-in emergency call systems. Common area amenities consist of restaurant-style dining rooms, libraries, game rooms, fitness centers and more.