Fifty Stones Capital Group Secures Dazzling $26.8M Take-Out Deal for Assisted Living Revival in Michigan

GRAND RAPIDS, MI – March 13, 2023 – In a heartwarming tale of renewal and relentless expertise, Fifty Stones Capital Group has closed an exhilarating $26.8M take-out refinance deal for the reconstruction of an assisted living facility in the vibrant heart Michigan. This deal, a masterstroke of financial ingenuity, pulls readers into a story of second chances, strategic brilliance, and a lender staking its claim as the force to reckon with in the industry.

The narrative begins with the borrower, a compassionate healthcare entrepreneur and founder of Serenity had poured her soul into revitalizing a dated assisted living complex on the banks of the Grand River, originally built in the 1980s. The property, a 97-unit facility with sprawling gardens and a newly added therapy wing, had been financed through a short-term construction loan that matured amid rising costs and a tight senior housing market. Facing a cash crunch and a looming repayment deadline, the borrowers dream teetered on the edge, until a lifeline emerged. The Grand Rapids property, nestled in a bustling town known for its craft beer scene and thriving arts district, boasted a 90% occupancy rate and a waitlist, signaling untapped potential. Undeterred by the borrower’s strained finances and the complexity of transitioning from construction to permanent financing, Fifty Stones engineered a $26.8M take-out refinance. Their negotiators smoothed over delays with the original lender, while their analysts secured a valuation that reflected the property’s post-reconstruction value. Closing in a mere 30 days, they turned a ticking time bomb into a triumph, stamping their feet as an emerging lending titan.

The deal’s terms are as impressive as the turnaround. Structured as a 48-month term with a 7.75% fixed interest rate included a 12-month interest-only period. Funds were disbursed in a single advance, clearing the old debt and funding operational enhancements like upgraded medical suites. This tailored structure, paired with their hands-on guidance through regulatory hurdles, showcased Fifty Stones’ ability to handle even the most intricate deals with grace. The borrowers gratitude underscores the impact. “I was drowning in deadlines,” she shared. “Fifty Stones didn’t just rescue my facility, they elevated it. Their expertise and speed are unmatched.” The reconstructed property, now a beacon of senior care with its modern amenities and serene setting, projects a 18% return by 2026, a testament to the financial synergy at play.

About Fifty Stones Capital Group

Fifty Stones Capital Group is a leading private lending firm specializing in take-out refinances, construction loans, and adaptive reuse projects. With a proven track record of turning referrals into successes, they are rapidly establishing themselves as the lender of choice for visionary developers nationwide. For more details, visit www.fiftystonescapitalgroup.com or send an email to info@fiftystonescapitalgroup.com.