CBRE Arranges $59M Construction Financing for Seniors Housing High Rise in Houston

HOUSTON — CBRE has arranged $59 million in construction financing for The Village of Southampton, a 17-story seniors housing community in Houston.

A joint venture between Bridgewood Property Company and Harrison Street Real Estate Capital is developing the building. The community will feature 204 units of independent living, assisted living and memory care within the high-end Rice Village mixed-use development.

Rice Village includes more than 300 shops and restaurants within a 16-block area. Located four miles southwest of downtown Houston, Rice Village is near Rice University, the Houston Museum District and the Texas Medical Center.

Retirement Center Management, Bridgewood’s wholly owned management affiliate, will operate the property. A timeline for construction was not released.

Aron Will and Austin Sacco of CBRE National Senior Housing secured the five-year, interest-only loan from a pair of national banks.