Marcus & Millichap Capital Corporation has arranged financing of $20.25 million for the development of Meadowview of Davenport, a seniors housing facility located in Davenport, Iowa.
“This loan enables our clients to build new infrastructure to house and support senior living in Davenport and the surrounding communities,” said Frank Montalto, vice president capital markets in MMCC’s Chicago office.
Montalto and Dean Giannakopoulos, senior vice president capital markets for MMCC, arranged the financing.
The pair secured a five-year, 75 percent leverage construction loan with a 3.75 percent interest rate.
The proposed 106-unit seniors housing campus will provide residents with comfortable living and access to medical, recreational and many other resources.