ROSEVILLE, Calif. — CBRE has provided a $12.9 million Fannie Mae loan to refinance Roseville Commons, a 108-unit independent living community in the Sacramento suburb of Roseville.
The borrower is Ray Stone Inc., a Sacramento-based company that has owned and operated the community since 2007. This is the fourth agency loan that CBRE has provided for Ray Stone.
In addition to refinancing a maturing loan, the financing provides funding for capital expenditures at the community.
Kevin Randles of CBRE’s Debt and Structured Finance office in Sacramento and Aron Will of CBRE National Senior Housing arranged the transaction.