VIRGINIA BEACH, Va. — Greystone Real Estate Advisors, a real estate lending and investment company, has arranged the sale of Pacifica Senior Living in Virginia Beach for $38 million. Capital Senior Living purchased the property from a private owner.
The community, located in the resort area of Virginia Beach, offers assisted living and memory care services.
Greystone’s Debt and Structured Finance Team sourced the acquisition financing for Capital Senior Living through a life insurance company. The 10-year, non-recourse loan features a 4.25 percent fixed interest rate.
Mike Garbers, managing director, led the sale transaction while Cary Tremper, managing director, led the financing.