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HIGHLANDS RANCH, CO-GMAC Commercial Mortgage Corp. recently provided $83 million in floating-rate construction financing for a senior housing property planned in Douglas County, near Highlands Ranch. Highlands Ranch, being developed by Shea Properties, is the largest master-planned community in the metro area.

The project, called Wind Crest Community, is expected to be built in three phases with a total cost of $530 million. The first phase will be built on 24 acres of the project, a spokeswoman for the financial giant tells GlobeSt.com. The other phases will occur based on market demand, she says.

The project is what is known as an entrance-fee based Community Care Retirement Community. Erickson Retirement Communities LLC is the developer and received the funding, while Wind Crest Inc., a nonprofit organization, is the operator and sponsor. Horsham, PA-based GMAC Commercial Mortgage is a Capmark Financial Group Inc.

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