CBRE Arranges Construction Funding for 12-Story Village on Morehead Community in Charlotte

CHARLOTTE, N.C. — CBRE Senior Housing has arranged an undisclosed amount of construction financing for The Village on Morehead, a seniors housing community in Charlotte.

The borrower is a joint venture between Bridgewood Property Co. and Harrison Street.

The 12-story, Class A development will feature 199 units of independent living, with assisted living services arranged by Bridgewood’s wholly owned management company, Retirement Center Management (RCM). The property sits on “an irreplaceable infill site between downtown Charlotte and the city’s most desirable neighborhoods,” according to CBRE.

Aron Will, Austin Sacco and Tim Root arranged the four-year, floating-rate loan with extension options and full-term interest-only payments through a national bank.

The Carolinas Medical Center, North Carolina’s largest hospital, is located less than a mile from the Community.