A partnership between Shelbourne Healthcare and Cedarhurst has secured construction financing for the development of Shelbourne at Chesterfield, a 150-unit senior housing project in Chesterfield, Mo, Multi-Housing News reports.
Greystone worked on behalf of the joint venture to secure the $35.9 million construction loan. The mortgage is funded by a large regional bank and features a five-year term.
Shelbourne Healthcare acquired the 8.2-acre land in 2018 for $4.4 million, public records show. Moseley Architects heads the design of the senior housing project. Read more.
