BELLINGHAM, Wash., and GREAT FALLS, Mont. — Grandbridge Seniors Housing and Healthcare Finance Group has facilitated the closing of two loans for Highgate Senior Living.
The nonrecourse, first mortgage loans for are for Highgate Bellingham and Highgate Great Falls were financed with 10-year fixed rate debt through Freddie Mac. The loan for the Bellingham location totals $8.5 million, while the Great Falls location totals $5.2 million.
The transaction refinances existing debt on the 108-unit portfolio. The loans both feature a 30-year amortization schedule. Grandbridge’s Richard Thomas originated the loan.