REPRESENTATIVE UNIQUE DEVELOPMENT TRANSACTION The Cedars of Chapel Hill Chapel Hill, NC
In December 2002, Barrow Street provided subordinate financing for the development of The Cedars of Chapel Hill, a 300-unit continuing care retirement community located in Chapel Hill, North Carolina. Residents were highly attracted to the Cedars given its superior quality, affluent population, continuum of care (independent living, assisted living, and nursing), and excellent location within the popular Meadowmont community in Chapel Hill.Additionally, units were priced at levels consistent with inferior comparable communities, though the project offered a far better-quality experience.
