A joint venture between Chicago-based developer Condor Partners and Denver-based seniors housing operator Solera Senior Living has received construction financing for the development of Trulee Evanston, a 163-unit luxury seniors housing property in Evanston, Ill.
JLL Capital Markets worked on behalf of the project sponsor to arrange the debt, which was provided by a national bank, and the equity, which was provided by an institutional private equity fund manager. Both capital sources have significant seniors housing experience. Total project costs total approximately $75 million and construction will commence immediately.
Trulee Evanston will be constructed on a 0.77-acre infill site along Ridge Avenue just north of downtown Evanston. The nine-story project will feature a blend of private independent living, assisted living and memory care units that will offer residents a modern design with condominium-level finishes throughout. Due for completion in 2021, Trulee wil
