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MASHPEE, Mass. — Greystone has provided a $24.8 million Freddie Mac Optigo loan to refinance a 70-unit senior housing property in Mashpee, a town on Cape Cod.
Built in 2018, Laurentide at Mashpee Commons in Barnstable County includes studio, one- and two-bedroom units and offers assisted living and memory care services. Approximately 10 percent of the units are designated affordable housing by the Cape Cod Housing Authority.
Shailini Nehra of Greystone arranged the transaction on behalf of the owner-operator, Northbridge Cos. The fixed-rate, nonrecourse financing carries a 10-year term and 30-year amortization.