May 24, 2016

North Dallas seniors community gets $42.9 million construction loan

Harbor Chase of the Park Cities Aerial_website

Dallas Morning News: North Dallas seniors community gets $42.9 million construction loan
Real Estate Editor

Silverstone Healthcare Co. has received $42.9 million in construction financing for a new North Dallas seniors community.

The 134-unit HarborChase of the Park Cities project is under construction at 5905 Sherry Lane in Preston Center, on the east side of the Dallas North Tollway.

Holliday Fenoglio Fowler LP arranged the building loan for the luxury assisted living and memory care community for owners Silverstone Healthcare Co. and its partner L&B Realty Advisors. Texas Capital Bank and Guaranty Bank & Trust provided the funding.

The 8-story building will be finished next year. BOKA Powell is the architect.

It’s the second local project for Silverstone Healthcare, which also has a new community in Plano.

Silverstone was founded by former Crescent Real Estate executives including Denny Alberts, who is chairman and CEO.

Current Crescent Real Estate CEO John Goff is an investor in the venture.

Silverstone is currently working on more than $260 million in development of six projects.