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FARMINGTON and SIMSBURY, Conn. — CBRE has arranged an undisclosed amount of financing for a joint venture between CA Ventures and a global investment manager. The funds will be used toward the construction of two seniors housing communities in the Hartford area.
Farmington Senior Living in Farmington and Simsbury Senior Living in Simsbury will each offer 80 assisted living units and 40 memory care units. Integral Senior Living will operate the two properties under a third-party management contract.
Aron Will of CBRE National Senior Housing arranged the five-year, floating-rate loans with 42 months of interest-only payments. A regional bank provided the two identical loans.