Meridian Capital Group, America’s most active dealmaker, arranged construction financing for the development of a memory care facility in Henderson, NV, on behalf of Valeo Partners.
The 36-month loan, provided by a balance sheet lender, was negotiated by Meridian Senior Vice President Peter Martz, who is based in the company’s Boca Raton, FL office.
The Vineyard, located on Horizon Ridge Parkway, will be two stories, feature 66 beds across 62 units, and is an expansion of the senior portfolio of Valeo Seniors, a division of Valeo Partners. The state-of-the-art facility will provide unique and proprietary care for residents, with amenities including chef-prepared meals daily and specialized programming for memory care residents from Valeo’s proprietary residence program, called THRIVE. “We are excited about bringing the next generation of memory care residences to serve the Las Vegas metro area,” said Kevin Suite, President of Valeo Senior.
Located just 16 miles southeast of Las Vegas, Henderson is the second largest city in NV and has been named one of the safest cities in the United States by Forbes, as well as one of the best places to live by MONEY magazine thanks to its favorable tax structure, award-winning healthcare locations, accredited parks, police and fire department. The property is easily accessible via McCarran International Airport in Las Vegas, which is approximately 15 minutes away by car.
“While specialized construction lending is a challenge in today’s market, it was a true pleasure working with Valeo Partners and their group of companies. The impressive resumes and experience of the principals were key in securing attractive balance sheet financing,” said Martz.
About Valeo Partners
Valeo Partners and Valeo Partners International are a group of vertically-integrated, niche-focused, lifestyle-enriched developers and owners of purpose-built housing in both senior and student sectors. With offices in Charlotte, Miami, London, St. Hillier, Copenhagen, Stockholm and Amman, Valeo has cultivated a meaningful presence in both niches they serve. The principals have extensive national and international development, construction, property management and asset management experience. Their successful industry-leading projects are focused on their customer’s journey. For more information, go to www.valeopartnersllc.com. #togethergrowingcommunity #WORKHARD #HAVEFUN #HELPOTHERS
About Meridian Capital Group
Founded in 1991, Meridian Capital Group, LLC is one of the nation's largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. www.meridiancapital.com