CBRE Arranges $75.4M Supplemental Loan for Seven-Property Freshwater/Watermark CCRC Portfolio

TUCSON, Ariz. — CBRE has arranged $75.4 million in supplemental financing for a seven-property portfolio of continuing care retirement communities owned by a joint venture that includes The Freshwater Group and Watermark Retirement Communities.

The group of properties is spread across six states and comprises of 1,308 independent living beds, 541 assisted living beds, 97 memory care beds and 373 skilled nursing beds.

The financing, arranged by Aron Will of CBRE National Senior Housing, will supplement a $410 million financing that CBRE arranged for the joint venture in 2015. That overall financing is for a larger portfolio totaling 15 properties and 3,804 beds, including the seven properties included in the supplemental financing. The use of the funds was not disclosed.

Tucson-based Watermark, which is the wholly owned management arm of The Freshwater Group, will continue to operate the properties.

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