THE WOODLANDS, Texas — CBRE National Senior Housing has arranged a $54.4 million refinancing of The Village at Woodlands Waterway in The Woodlands, a suburb of Houston.
The borrowers are the Saudi Economic and Development Co. (SEDCO) and Madison Marquette.
Situated on a 2.7-acre site, the community was built in 2011 and consists of 116 independent living units, 63 assisted living units and 28 memory care units for a total of 207 units. The property is in the heart of The Woodlands Town Center along The Waterway, which connects to all of the area’s main attractions including entertainment, shopping and hospitality.
The Woodlands Town Center includes Cynthia Woods Mitchell Pavilion, one of Houston’s premier concert venues and home to the Houston Symphony, as well as the Woodlands Mall. The community is also located one mile south of Memorial Hermann Woodlands Hospital, which features 294 beds.
Aron Will, Austin Sacco and Tim Root of CBRE National Senior Housing arranged the nonrecourse, Shariah-compliant, three-year, floating-rate loan with full-term, interest-only payments. A debt fund provided the capital.
Post-closing, LCS will continue to operate the community, as it has done since 2017. CBRE also originally financed the acquisition of the asset.