LCB Senior Living has obtained $53.4 million in construction financing and joint venture equity for senior housing developments in Melrose and Swampscott.

The Residence at Vinnin Square in Swampscott will contain 85 apartments for independent, assisted and memory care living on a 3.1-acre site. Cushman & Wakefield’s capital market team arranged $18.5 million on construction financing from M&T Bank, with $10 million in joint venture equity from AEW Capital Management and LCB. The project is now under construction and is scheduled to open in early 2017.

The Residence at Melrose Station will contain 90 independent, assisted and memory care residences on a 1.5-acre site. The project received $19.8 million in construction financing from M&T Bank and $10.5 million in joint venture equity from AEW Capital Management. Completion is estimated to take place in early 2017.

Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, James Dooley and Caryn Miller arranged the financing for LCB, which owns 1,528 senior housing beds including 467 currently under construction.