Nutter Represents Berkshire Bank in Financing to Develop Independent, Assisted Living and Memory Care Community in New JerseyPrint PDF
Nutter recently represented Berkshire Bank in a construction loan to a joint venture between LCB Senior Living, LLC and Berkshire Residential Investments for the construction of an independent, assisted living and memory care community in Basking Ridge, New Jersey.
The Residence at Basking Ridge will help fulfill the need for senior living communities that provide premium service and hospitality in northern New Jersey. The project involves the construction of a new three-story assisted living residence with 94 apartments, of which 27 are for memory care. Located at 219 Mount Airy Road, the community will offer a full-service restaurant, activity spaces, bistro, media room, pub, fitness, sun room, wellness and reflection areas, and many other amenities.
The Nutter team included Paul Ayoub, Wendy Fiscus, and Greg Bradford of the Commercial and Real Estate Finance practice group. The group has been engaged by owners, investors, developers, lenders, and borrowers to handle thousands of transactions involving projects in 46 states and abroad. These clients participate in some of the largest and more sophisticated development projects and borrow from the full range of public and private institutional lenders. Nutter attorneys are also counsel to more than half of the top 10 commercial banks in the United States, as well as many of the nation’s most reputable community and regional banks, insurance companies, pension funds, private equity investors, and non-traditional financing sources.
Nutter is a Boston-based law firm that provides legal counsel to industry-leading companies, early stage entrepreneurs, institutions, foundations, and families, across the country and around the world. The firm’s business and finance, intellectual property, litigation, real estate and land use, labor and employment, tax, and trusts and estates practices are national in scope. The firm was co-founded in 1879 by former U.S. Supreme Court Justice Louis D. Brandeis, before his appointment to the Court. For more information, please visit www.nutter.com and follow the firm on LinkedIn.
About Berkshire Residential Investments
Berkshire Residential Investments is a vertically integrated residential real estate investment and property management company with over 50 years of experience. Berkshire’s team of industry leaders has gained a reputation for being able to identify opportunities and effectively manage through various economic environments, establishing a long-term track record of solid performance based on thoughtful, leading edge investment strategies, and hands-on development and operational experience. Berkshire, a registered investment advisor, is headquartered in Boston and has offices in Atlanta, Dallas and San Francisco. As of March 31, 2021, Berkshire had approximately $12.1 billion in real estate assets under management. For more information on Berkshire, please visit www.berkshireresi.com.