Cushman & Wakefield Senior Housing Capital Markets has arranged $15.1 million in non-recourse construction financing for LCB Senior Living. The loan will be used for the construction of the Residence at Silver Square in Dover, New Hampshire. Located 10 miles from Portsmouth, NH and 70 miles north of Boston, the facility will feature 76-apartments and 84-resident independent living units. The new site will also include a new hotel, a medical office building, a bank and a coffee shop. Berkshire Bank provided $15.1 million in non-recourse construction financing for the joint venture between LCB and Blue Moon Capital Partners. The project is slated to break ground in August 2016 and is expected to open in the first quarter of 2018. The Residence at Silver Square is LCB’s twelfth senior housing development since 2013. The company has a portfolio of 1,525 seniors housing beds with an additional 330 currently under construction.
