HFF Negotiates Financing for Eight-Property Portfolio in New England

MAINE, MASSACHUSETTS and NEW HAMPSHIRE — HFF has secured an undisclosed amount of financing for an eight-property, 565-unit seniors housing portfolio located in New England.

Northbridge Strategic Senior Housing Fund II is the borrower. Freddie Mac provided the capital, and HFF will service the loans. The use of the funds was not disclosed.

The properties in the portfolio are Avita of Brunswick in Brunswick, Maine; Avita of Stroudwater in Westbrook, Maine; Avita of Wells in Wells, Maine; Carriage House at Lee’s Farm in Wayland, Massachusetts; Laurelwood at the Pinehills in Plymouth, Massachusetts; Ledgewood Bay at Milford in Milford, New Hampshire; Stroudwater Lodge in Westbrook, Maine; and Sunnybrook in Brunswick, Maine.

The properties have an average completion date of 2014 and comprise a mixture of 49 independent living, 256 assisted living and 260 memory care units that were nearly 90 percent occupied at closing.