By Trevor Damyan, Commercial Mortgage Broker at Commercial Lending Solutions
A $20 million senior care construction loan typically finances a 60 to 100 unit assisted living, memory care, or independent living development. Most $20M senior care construction projects fund through HUD 232 New Construction (90 percent LTC fully amortizing) or specialty bank/debt fund construction with separate permanent take-out.
Get a Quote on Your $20M Deal →$20M senior care construction stacks combine senior construction debt with institutional equity. HUD 232 New Construction is the gold standard for long-term hold; bank construction with separate take-out provides more flexibility.
Pricing reflects active CLS CRE quote pipeline as of April 2026. Specific deal pricing depends on sponsor, property, and structure.
Typical $20M senior care construction sponsors are institutional senior care developer-operators with completed projects. Sponsor net worth $25M to $200M. Senior care operating experience is essential.
On a $22M construction of an 84-unit assisted living and memory care community in a Sun Belt market, the sponsor was an institutional senior care operator with 12 communities. HUD 232 New Construction at 6.15 percent fixed 40-year fully amortizing at 88 percent LTC ($19.4M loan amount), with Davis-Bacon prevailing wage. The HUD process took 22 months from initial application to construction loan close.
Anonymized. All deal references protect borrower and lender identity.
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