Senior Living Facility 60 beds per location

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Project Overview

The development team of Gardens Senior Living have extensive individual experiences and background in the Senior Housing and Assisted Living markets. Gardens Senior Living feels this model is very efficient in servicing a given number and combination of residents and beds within this market place, for it has the proper supportive demographics (see attached Market summary and corresponding documents.) The operating projections include the budget to get the facility built and open for operation, along with operational projections for five years, monthly for the first year and annually thereafter. The construction timeline is less than 12 months. This specific project shows a 20% NOI after stabilization with projected value of each location to be over $20.5 M. All eight sites located in Michigan will be started concurrently and all built for a grand opening within 12 months.

Executive Summary

The City of St Clair, Michigan is one of the locations selected in the center of a market that has senior health facilities that will support our licensed Assisted Living & Memory Care development. One of the 5 acres sites is located inside a 57 acre proposed multi family community in East China Township. An added plus for this site is that our facility is adjacent to the Ascension River District Hospital. Also, 10 miles to the west are two major hospitals, Ascension Hospital and Beaumont Hospital. Allison Construction Services LLC's design build team is composed of Robert Storen (Construction Administrator), John Marusich (Architect) and Steven Williamson (Gardens Senior Living, Project Operations Manager) The Allison executives have construction/developement experiences of over $4B. The principal ownership of the 8 locations will be held by Cactus Wren, LLC which is owned by 2 members of Infinity and will supply 50% of the coins needed for the project.

Funds Required

$ 116,744,000.00

Draw schedule

First Draw: $ 30,000,000.00
Second Draw: $ 20,000,000.00
Third Draw: $ 20,000,000.00
Fourth Draw: $ 20,000,000.00
Fifth Draw: $ 20,000,000.00
Sixth Draw: $ 6,744,000.00