CBRE Closes $33.3M Refinancing for 199-Unit Community Near Birmingham

HOOVER, Ala. — CBRE has arranged a $33.3 million refinancing for Somerby at St. Vincent’s One Nineteen, a 199-unit independent living, assisted living and memory care community in the Birmingham suburb of Hoover.

Dominion Partners and Property Investment Advisors were the borrowers. Somerby Senior Living, which is a subsidiary of Dominion, is the operator.

The Class A property was built in 2009 on the campus of St. Vincent’s Health System’s One-Nineteen Health & Wellness Facility, which offers therapy services.

Aron Will of CBRE National Senior Housing arranged the loan through Freddie Mac with 36 months of interest-only payments.

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