Twain Financial Partners announced the successful financing of $11 million in ground lease capital to The Summit, a senior living community in Little Rock, AR. Developed by O’Reilly Development Company, The Summit represents Twain and O’Reilly’s second successful ground lease transaction.
Twain’s funding will aide in the ground-up construction of a 158-unit senior living community. Upon completion, The Summit will include 96 independent living units, 44 assisted living units, and 18 memory care units. On-site amenities include a bistro, pool, demonstration kitchen, salon, spa, theater, multipurpose room, shared dining room and gathering spaces, library, computer lab, wellness/fitness center, nurses’ and doctors’ offices, community laundry, and an outdoor courtyard.
“We are incredibly excited to bring this project to the Little Rock community,” said Denise Heintz, Partner and Director of Operations at O’Reilly. “Twain’s ground lease is a flexible and creative financing option that made this possible. We are confident that The Summit will be a wonderful home to many seniors in the area.”
O’Reilly is a real estate investment and development firm specializing in historic preservation, senior housing, affordable housing, multifamily and student housing communities. The O’Reilly team of experts branch into all areas of development, construction, management, and ownership with properties built in the residential, commercial, and industrial sectors.
“Twain is a partnership-focused company, and it has been a sincere pleasure to collaborate with O’Reilly,” said Erik Lintvedt, Business Development Officer at Twain. “Building new residential communities for the elderly requires special sensitivities with close attention paid to hyper-local market conditions. We appreciate our partners at O’Reilly for their careful planning and professional execution and we look forward to future projects.”
Learn more about ground lease capital.