HOUSTON - The Village of River Oaks, a senior housing project on South Shepherd, has secured $49.7 million in construction financing.
The project, at 1015 S. Shepherd Dr., was announced in the fall of 2013. It will be the first senior housing community in River Oaks.
The 182,500-sf facility will contain 195 units. It is expected to open in 2016.
CBRE Capital Markets arranged the financing for a joint venture between Bridgewood Property Co. and Harrison Real Estate Capital, which is developing the project.
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