Cushman & Wakefield Negotiates $24.3M Refinancing for Community in Minnesota

WHITE BEAR LAKE, Minn. — Cushman & Wakefield Senior Housing Capital Markets has arranged a $24.3 million refinancing for Waters of White Bear Lake, a 136-unit Class A independent living, assisted living and memory care community.

The borrower is a joint venture between The Waters Senior Living and Harrison Street. The owners completed the 5.2-acre campus in 2016, located in the Twin Cities metro of White Bear Lake. The funds will refinance the construction loan.

BMO Harris Bank provided the capital. The Cushman & Wakefield team involved in the transaction included Jay Wagner, Sam Dylag and Jack Griffin. The BMO Harris team involved in the transaction included Derek Zeller, Imran Javaid and Brian Vis.