Summary
The Statesman at Horseshoe Bay is a ground-up senior living development situated within the Silver Rock master-planned community in Horseshoe Bay, Texas, approximately 50 miles west of Austin. The 314,000-square-foot property will serve independent living, assisted living, and memory care residents across 180 units. The facility will feature a comprehensive resort-style amenity package, including multiple dining venues, a fitness and wellness center, and a resort-style pool.
Opportunity
NGC provided $38.6 million in C-PACE financing to the sponsor, Falcon Senior Housing LLC, alongside EB-5 immigration investment funds, which served as the senior lender. This innovative structure optimized the weighted average cost of capital while advancing the job creation objectives central to the EB-5 program. NGC delivered the final piece of the capital stack, filling the gap between the senior EB-5 debt and the sponsor’s equity. This structure, ideally suited to large-scale, long-horizon developments such as senior living communities, enabled the sponsor to fully capitalize the project, preserve equity, and position the asset for long-term success.
