Loveland senior complex secures financing

LOVELAND — Developers of a new senior living complex to be built in the Centerra neighborhood of Loveland have secured $29.4 million in construction financing to begin their project.

Cushman & Wakefield’s Senior Housing Capital Markets division assisted Avenida Partners LLC, a Newport Beach, California, company in signing a joint-venture deal with LaSalle Investment Management Inc., a Chicago firm. The venture will be financed by Bank of America, according to information provided by Cushman & Wakefield.

The 154-unit senior complex designed for active seniors will be built on the northeast corner of North Boyd Lake Avenue and U.S. Highway 34.

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In a statement, Cushman & Wakefield said Avenida Loveland will be a boutique community that will feature entertainment amenity spaces and exterior activity areas. Planned are a mountain-view observation deck, a lodge-like great room, fitness studio, bistro and sports bar, creative arts studio, movie theater, pool, dog park, pickleball court, and fruit tree orchard.

The Cushman & Wakefield team involved in the transaction included vice chairman Richard Swartz, executive managing director Jay Wagner, managing director Aaron Rosenzweig and senior director Tim Hosmer.

Avenida Partners has senior-living complexes in multiple states, including a facility in Lakewood.

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