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EAST WINDSOR, N.J. — Kennedy Funding Financial has closed a $1.7 million loan for EW Acquisition. The loan proceeds will be used for working capital and to fund infrastructure improvements to convert the property into The Seasons at East Windsor, a proposed 121-unit/148-bed assisted living facility located at 359 Princeton Road in East Windsor.
The borrower acquired the property in 2005 and started an improvement program at the property, which is situated on 3.9 acres. The 89,038 square feet of improvements are scheduled for completion in 2017. Once complete, the property will contain a mix of assisted and memory care units.