Prevarian Senior Living secures $17.2 million loan
RED Capital Partners has closed a $17.2 million balance sheet construction loan for Prevarian Senior Living to build Prairie House Assisted Living and Memory Care, which will operate on the campus of St. John Medical Center Hospital in Broken Arrow, OK, under a long-term ground lease.
Prairie House will be a 93,000-square foot, two-story senior lifestyle community and will accommodate more than 100 residents. The facility will offer a choice of 73 alcove, one-bedroom or two-bedroom floor plans for assisted living. The community also will include 32 suites designed for memory care residents.
The property will be operated by LifeCare Services based in Des Moines, IA.