DALLAS — Grandbridge Real Estate Capital has arranged a $6 million loan for Acadia Assisted Living, an 88-unit seniors housing community located in Dallas.
Finance
Berkeley Point Capital Closes $16.2M Freddie Mac Loan for Mass. Assisted Living Community
by Jeff Shaw
MALDEN, Mass. – Berkeley Point has closed a $16.2 million Freddie Mac 7-year floating rate term loan for Atria Senior Living and its partners. The loan refinanced existing first mortgage debt due to Mass Housing and facilitated the buyout of its tax credit equity partner.
With seniors housing property sales in 2014 hitting $17 billion – exceeding the $15 billion recorded last year – industry executives predict no slowdown in the acquisitions market in the year ahead. Capital continues to flood the sector from established and new players alike, as property prices are expected to continue to rise amid fierce competition for trophy facilities.
TUSCON, Ariz. — Berkeley Point recently closed the refinancing of Copper Canyon Alzheimer’s Special Care Center, a 66-bed Alzheimer’s care community located in Tucson, Ariz. The cash-out refinancing was structured as a fixed-rate Fannie Mae 10- year loan term with a period of interest only.