CBRE Arranges Refinancing for American House Macedonia in Ohio

MACEDONIA, Ohio — CBRE has arranged a refinancing for American House Macedonia, a 100-unit assisted living and memory care community in Macedonia, approximately midway between Cleveland and Akron.

The borrower is a joint venture between Harrison Street and REDICO, which have partnered on over 25 seniors housing communities together. The operator, American House Senior Living Communities, is an affiliate of REDICO.

Originally built in 2015, the community consists of 70 assisted living units and 30 memory care units. It is situated on a four-acre site less than a mile west of many of the city’s retail centers. It is also located within six miles of two major hospital medical centers.

CBRE secured a non-recourse, five-year, floating-rate loan with 36 months of interest-only payments from a national bank. The amount of the loan was not disclosed. Aron Will, Austin Sacco and Adam Mincberg arranged the financing.