Grandbridge Provides $13.7M Loan for Assisted Living Facility in Virginia

YORKTOWN, VA. — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team in Atlanta has funded a $13.7 million construction loan for The Crossings on the Peninsula in Yorktown. The new 104-unit, 86,000-square-foot facility comprises 68 assisted living residences and a 34-bed memory care wing known as Harmony Square Town Center. The property’s amenities will include a library, computer lab, on-site fitness center, theater, pub, dining room, multi-purpose room, beauty shop, nursing/physician center and a swimming pool. Richard Thomas and Meredith Davis of Grandbridge coordinated the transaction with Neal Lineberry of parent company BB&T on behalf of the borrower, Roanoke, Va.-based Smith/Packett Med-Com LLC.

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