PITTSBURGH, INDIANAPOLIS AND LOUISVILLE, Ky. — CBRE has brokered the sale of four active adult communities totaling 481 units in the Pittsburgh, Indianapolis and Louisville metro areas.
An institutional investor that is a leading active adult owner-operator was the seller. Another institutional investor acquired the properties for an undisclosed price.
CBRE’s Indianapolis multifamily team consisting of Steve LaMotte and Dane Wilson, CBRE’s Pittsburgh multifamily team consisting of Laura Lawrence, and CBRE’s National Senior Housing team members John L. Sweeny Jr., Aron Will, Garrett Sacco and Scott Bray represented the seller.
CBRE National Senior Housing’s Debt & Structured Finance Team arranged the acquisition financing. CBRE secured a low-leverage, seven-year, fixed-rate loan to facilitate the acquisition via its Fannie Mae DUS Lending platform. Aron Will and Matt Kuronen represented the borrower.