Saturday, January 19, 2019

HFF announces financing for 240-unit independent living development in suburban Chicago

Sarah Anderson


DALLAS, TX – January 14, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces financing for the development of Deerfield Senior Residences, a 240-unit, six-story, luxury independent living community in the northern Chicago suburb of Deerfield, Illinois.

The HFF team worked on behalf of affiliates of Banner Senior, LLC (“Banner”), the managing partner of a joint venture partnership that is developing the facility, to arrange joint venture equity through Harrison Street.

 Additionally, HFF worked on behalf of the new partnership to secure a $55.6 million, four-year, floating-rate construction loan through a national bank.

Matthew Schoenfeldt

Deerfield Senior Residences will be located on a 5.17-acre parcel adjacent to the Weinberg Campus for Senior Living at Lake Cook Road adjacent to the entrance to Interstate 294, which provides access to the northern Chicago suburbs, O’Hare International Airport and the CBD. 

The location is also within four miles of Northshore University Health Glenbrook Hospital and Northwestern University’s Glenview outpatient facility. 

 The Weinberg Campus is managed and operated by CJE SeniorLife, an affiliate of the Jewish Federation of Metropolitan Chicago.  CJE will also manage and operate the new Deerfield Senior Residences. 

Currently, the Weinberg Campus is home to 125 assisted living units and 40 memory care units, which are fully occupied, as well as adult day care services serving more than 100 clients per week. 

Deerfield Senior Residences, Deerfield, IL

 Due for completion in the summer of 2020, this new, best-in-class independent living component will complement the existing facilities and will provide a continuum of care for seniors in the area.

The HFF capital placement team representing the borrower included managing director Matthew Schoenfeldt and director Sarah Anderson.

CONTACTS:

MATTHEW SCHOENFELDT
HFF Managing Director
(312) 528-3650

SARAH ANDERSON
HFF Director
(214) 265-0880

OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3403



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