Tarabicos Grosso, LLP recently represented Middletown Senior Living Partners, LLC in the acquisition and $33,000,000.00 construction financing transaction for a project located on Middletown Odessa Road in Middletown, Delaware. Eight separate parcels were acquired by Middletown Senior Living Partners, LLC and consolidated into one parcel by a Record Major Land Development Plan.
Prior to the property acquisition, the firm’s land use team led efforts to obtain all development approvals necessary for Plan recordation, which required several hearings before the County and support from the community. Tarabicos Grosso also coordinated preparation of an easement agreement for the project, which will provide connection to the County public sewer system through a local residential subdivision.
Funding from the financing transaction will be used to facilitate the construction of a new assisted living and independent living facility, to operate as Meadowcrest at Middletown, that will house independent living resident units, memory care units, and assisted living resident units.