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REDDING, Calif. — CBRE has arranged an undisclosed amount of financing for Ray Stone Inc., which will use the capital to acquire River Oaks Retirement Community, a 102-unit independent living community in Redding, approximately 160 miles north of Sacramento.
CBRE Multifamily Capital originated a fixed-rate loan through its Fannie Mae DUS multifamily loan origination program. Ray Stone will operate the property following the sale.
CBRE’s Kevin Randles and Aron Will arranged the financing.