LEXINGTON, Ky., and CINCINNATI — CBRE has arranged an undisclosed amount of financing for three seniors housing communities in the Lexington and Cincinnati metro areas.
The borrower is a joint venture between LCS Real Estate and Nuveen Real Estate. All three properties fall under the Magnolia Springs brand.
Of the 328 units in the portfolio, 232 are for assisted living and 96 are for memory care.
Aron Will, Austin Sacco and Matthew Kurornen of CBRE National Senior Housing arranged three separate, non-crossed, five-year, floating-rate loans with 36 months of interest-only payments. The lender is a national bank.
This transaction represents CBRE’s second financing for the portfolio, having originally financed the acquisition in 2018.