CBRE Arranges $39.9M Loan for Acquisition of 276-Unit Independent Living Community Near Philadelphia

HARLEYSVILLE, Pa. — CBRE Capital Markets has arranges a $39.9 million loan for Green Courte Partners, which will use the financing to acquire Arbour Square of Harleysville, a 276-unit independent living community in the Philadelphia suburb of Harleysville.

The Property was built in two phases, with Phase I (151 units) opening in 2006 and Phase II (125 units) opening in 2014. Green Courte, which is a Chicago-based private equity firm, will retain the existing regional operator, Heritage Senior Living.

The Freddie Mac loan features a fixed rate with a 10-year term and 72 months of interest-only payments.

Aron Will, vice chairman of CBRE National Senior Housing, arranged the financing. Institutional Property Advisors, a division of Marcus & Millichap, brokered the sale.