ANTIOCH, Calif. — CBRE has arranged acquisition financing for Cypress Meadows, a 110-unit assisted living and memory care community in Antioch, located approximately 40 miles northeast of San Francisco.
The buyer is a joint venture between Agemark Senior Living and Trellis Real Estate Group. The seller was not a local mom-and-pop owner. Agemark will operate the property following the acquisition.
Cypress Meadows was built in 1999. The new owners plan to spend $2.6 million in capital upgrades.
Aron Will of CBRE National Senior Housing secured a five-year, floating-rate loan with 36 months of interest-only payments from a national bank.