CBRE Arranges $37.2M Refinancing for Starling at Nocatee in Ponte Vedra, Florida

PONTE VEDRA, Fla. — CBRE has arranged a $37.2 million cash-out refinancing for Starling at Nocatee, a 140-unit independent living community in Ponte Vedra, a coastal suburb of Jacksonville.

The community was built in 2019 and sits on a 6.5-acre site in the heart of Nocatee, a 15,000-acre master planned. The location is within walking distance of the Nocatee Town Center and directly across from the Splash Water Park, Nocatee’s signature amenity.

CBRE originated a seven-year, floating-rate loan with three years of interest-only payments through its Freddie Mac OPTIGO lending program.

CBRE National Senior Housing’s Aron Will, John Sweeny, Austin Sacco and Adam Mincberg partnered with CBRE Jacksonville’s Debt and Structure finance professionals Philip Rachels and Jeffrey Kinney to arrange the refinancing.