LOS ANGELES— iBorrow, a nationwide private direct lender for commercial real estate, has provided a $18.25 million loan secured by a 109-bed, 77,132 square foot senior living facility, in Dallas, Texas. The Property is well located, within 2 miles of several major Dallas—area Hospitals, including Texas Health Resources, Medical City Dallas, and Kindred Dallas.
Brian Good, iBorrow CEO, said, ““The borrower has built a state-of-the-art facility in an ideal part of Dallas. They have also partnered with StoneGate Senior Living, a best-in-class operator of senior living facilities in the Dallas area, to help increase the occupancy. Our loan will allow the borrower to pay off their construction loan and bridge the property through the lease-up period to stabilization. We are confident our flexible loan provides the necessary features to allow the borrower to execute their plan.”