Canyon Partners Real Estate Provides Financing for Senior Housing Community in Chicago, Illinois
June 11, 2025
CHICAGO, IL (June 11, 2025) – Canyon Partners Real Estate LLC (“Canyon”) today announced that it has provided a $47 million senior loan to a joint venture between affiliates of AEW Capital Management, L.P. (“AEW”) and REDICO to refinance American House Oak Park (the “Property”), a recently built 174-unit seven-story Class-A senior housing community located in the Oak Park neighborhood of Chicago, Illinois. The transaction was facilitated by Newmark.
American House Oak Park features a range of senior living options including 74 independent living units, 65 assisted living units, and 35 memory care units. The community addresses the growing needs of Oak Park and surrounding suburbs by providing high-quality housing and support services for its aging population. The Property features Class-A community amenities, including a rooftop lounge with city views, green roof terraces, various dining and fitness options, as well as a salon, game room, art studio, and cinema-style theater.
Located in the first-ring Chicago suburb of Oak Park, residents of the Property have access to a variety of retail amenities including Whole Foods Market and Trader Joe’s as well as medical facilities including West Suburban Medical Center, Loretto Hospital, and the Illinois Medical District. The Property is also located directly across the street from a soon-to-be-completed Pete’s Fresh Market.
Canyon is actively expanding its deployment of bridge debt capital on commercial real estate assets in primary and secondary markets across the United States. Since its inception, Canyon has invested over $1.1 billion of debt and equity capital across 49 transactions, capitalizing $3.6 billion of total projects across all asset types in the Midwest.
About Canyon Partners Real Estate LLC
Founded in 1991, Canyon Partners Real Estate LLC (“Canyon”) is the real estate direct investing arm of Canyon Partners, LLC, a global alternative asset manager with over $27 billion in assets under management. Over the last fifteen years, Canyon has invested over $7.8 billion of debt and equity capital across 271 transactions capitalizing approximately $28.0 billion of real estate assets, focusing on debt, value add, and opportunistic strategies. With 30+ years of experience, Canyon has established a broad menu of investment capabilities spanning property types, US regions, and project stages (including development, transitional, and distressed/workouts). For more information visit: www.canyonpartners.com.
About AEW
For over 40 years, AEW Capital Management, L.P. (AEW) has provided real estate investment management services to investors worldwide. As one of the world’s largest real estate investment advisors¹, AEW and its affiliates manage $83.9 billion in private real estate equity, debt and listed securities across North America, Europe and Asia (as of March 31, 2025). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, Denver, London, Paris, Hong Kong, Seoul, Singapore, Sydney and Tokyo, as well as additional offices in eight European cities. For more information, please visit www.aew.com.
¹Source: “2024 IREI.Q Real Estate Managers Guide”. The Guide, published annually by Institutional Real Estate, Inc., ranks real estate managers based on the gross value of real estate AUM ($m) as of December 31, 2023. As of March 31, 2025. AEW includes (i) AEW Capital Management, L.P. and its subsidiaries and (ii) affiliated company AEW Europe and its subsidiaries. AEW Europe and AEW Capital Management, L.P. are commonly owned by Natixis Investment Managers and operate independently from each other. Total AEW AUM of $83.9 billion includes $38.8 billion in assets managed by AEW Europe and its affiliates, $4.8 billion in regulatory assets under management of AEW Capital Management, L.P., and $40.3 billion in assets for which AEW Capital Management, L.P. and its affiliates provide (i) investment management services to a fund or other vehicle that is not primarily investing in securities (e.g., real estate), (ii) non-discretionary investment advisory services (e.g., model portfolios) or (iii) fund management services that do not include providing investment advice.
About REDICO
For over 50 years, REDICO, has been a national leader in the real estate industry. Headquartered in Southfield, Michigan, REDICO offers a diverse portfolio of services, including real estate development, investment, asset management, property management, capital partnering, and leasing. REDICO’s dedicated senior living operator, American House Senior Living, manages over 5,000 units across more than 60 communities. For more information, visit www.redico.com.
Media Contacts:
Canyon Partners
Kris Cole
(310) 614 9208
REDICO
Lori Bender
lbender@go-design-plus.com
(248) 444 0745