Project Description

Love Funding, one of the nation’s leading providers of FHA multifamily, affordable and healthcare financing, announced the closing of a $19.7 million loan for the construction and permanent financing of Anthem Lakes, a new assisted living community under development in Jacksonville, Florida.

Anthem Lakes will offer 117 licensed beds, of which 34 will be designated for memory care and 83 for assisted living. An additional 20 units are reserved for independent living. The facility will be situated on 14.5 acres in an area of Jacksonville, Florida known as The Beaches. The senior housing community is located next to the Mayport Naval Base and Air Station and will serve the large veteran community of Duval County.

Love Funding secured the financing through the U.S. Department of Housing and Urban Development’s Section 232 loan program for healthcare facilities. The HUD program provided the development team with low-rate, non-recourse financing for a 15-month construction period and for a subsequent 40-year term.

The development is being led by David Kirkland, Carson McCall and Wayne McCall, who have worked together for many years. Perry-McCall Construction is a full-service commercial construction company based in Jacksonville, Florida that provides services in General Contracting, Design-Build, and Construction Management. The firm has extensive experience building healthcare projects, including assisted living and skilled nursing facilities.

RELATED EXPERIENCE

DEAL OVERVIEW

LOCATION
Jacksonville, FL

LOAN DETAILS
232 New Construction

PROPERTY
Assisted Living Facility
117 Licensed Beds

DATE CLOSED
October 27, 2015

About Love Funding
Love Funding is a leading HUD lender with over 30 years of experience. We provide financing for market-rate multifamily and affordable housing, healthcare and seniors housing facilities and hospitals nationwide.