Grandbridge Arranges $52M in Financing for Three Communities in Washington, Massachusetts

by Jeff Shaw

ATLANTA — Grandbridge Real Estate Capital, an Atlanta-based lender, has closed three loans totaling $52 million for three communities in Massachusetts and Washington State.

The first transaction was a $19.4 million first mortgage loan for Aegis of Issaquah, a 99-unit assisted living, memory care and short-term rehabilitation community in the Seattle suburb of Issaquah, Wash. Freddie Mac’s Capital Markets Execution (CME) Multifamily loan product provided the capital.

The second loan was a $30.3 million permanent, floating-rate loan for Brightview North Andover, a 133-unit independent living, assisted living and memory care community in the Boston suburb of North Andover. Fannie Mae provided the capital for the loan, which refinanced a previous loan.

The final loan was a $2.3 million supplemental loan for Highgate Senior Living, a 58-unit independent living, assisted living and memory care community in Vancouver, Wash. Fannie Mae provided the funding for the permanent, fixed-rate loan.

Richard Thomas, senior vice president, and Meredith Davis, vice president, led the Grandbridge team on all transactions.

You may also like