LOS ANGELES - eTradeWire -- Mesa West Capital has provided a $94.2 million construction loan to a joint venture between affiliates of Bain Capital Real Estate and Investcor for a planned 234-unit luxury senior housing community in Henderson, Nevada.

The three-year nonrecourse, floating-rate loan is secured by MorningStar Green Valley, a full-continuum senior living community. Expected to be delivered to market in October 2028, the community will offer independent living, assisted living and memory care residences.

MorningStar Green Valley is located at 2155 Village Walk Drive in the master-planned Green Valley Ranch community, one of the most affluent and desirable submarkets in the Las Vegas metropolitan area. The four-story community will feature a broad range of amenities, including a spa, clubhouse, multiple resident lounges, theater, pet spa, fitness centers, outdoor courtyards and underground parking.

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Located adjacent to The District at Green Valley Ranch and near Green Valley Ranch Resort, the community will offer residents walkable access to shopping, dining and entertainment destinations, along with convenient access to healthcare services and several established active-adult communities throughout Henderson.

"The senior housing sector continues to benefit from compelling demographic tailwinds, while new supply remains extremely limited in many markets," said Pamir Niaz, Executive Director at Mesa West Capital. "The project's location within Green Valley Ranch, combined with its luxury positioning, experienced sponsorship and established operating partner creates a highly attractive opportunity to capture untapped demand."

MorningStar Senior Living, a Denver-based senior housing owner, developer and operator, will manage the community upon completion. MorningStar currently operates or has under development 37 senior housing communities totaling more than 5,000 units across the western United States, including two communities in the Las Vegas area.

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The construction team includes Martin-Harris Construction, LLC; DRC Surveying Nevada, Inc. and Architectural Nexus.

About Mesa West Capital, LLC
Mesa West Capital (http://www.mesawestcapital.com) is a leading commercial real estate debt fund manager and portfolio lender. With offices in Los Angeles, New York, Chicago, Houston and San Francisco, Mesa West has been one of the leading providers of commercial real estate debt since its founding in 2004. Mesa West provides non-recourse first mortgage loans for core/core-plus, value-add or transitional properties throughout the United States. Mesa West's lending portfolio includes all major property types with loan sizes ranging from $20 million to $400 million. Since inception, the firm has sourced and closed nearly 500 transactions totaling over $30 billion.