CBRE Arranges $12.2M Acquisition Financing for 100-Unit Community in North Carolina

by Jeff Shaw

DURHAM, N.C. — CBRE has arranged $12.2 million in acquisition financing for Bartlett Reserve, a 100-unit independent living community in Durham. The borrower was Focus Healthcare Partners LLC.

Originally built as a hotel, the property underwent a multi-million-dollar renovation in 2013 by the undisclosed seller to convert the community into a Class A seniors housing community. It was fully occupied at the time of sale.

Aron Will of CBRE National Senior Housing arranged the 10-year, floating-rate loan with five years of interest-only payments through its Fannie Mae DUS Multifamily loan origination program.

Focus Healthcare Partners LLC is a real estate investment firm headquartered in Chicago. The firm targets seniors housing and healthcare real estate investments on behalf of institutional and private investors. Since its formation in 2010, Focus has invested more than $400 million into the U.S. seniors housing sector. 

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