ALMA, Mich. — Cohen Financial, a division of SunTrust Bank, has provided a $4.1 million loan for Arbor Grove Assisted Living, a seniors housing community in the Central Michigan city of Alma.
Arbor Grove offers 41 units of assisted living. The borrower is a Grand Rapids-based owner-operator.
Cathy Bronkema and Joshua Hausfeld secured the 35-year, fully amortizing HUD loan. The transaction will refinance existing debt.