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FREMONT and SAN JOSE, Calif. — Lument has provided $38.8 million in Freddie Mac refinancing loans for Carlton Senior Living, one of Northern California’s largest senior living providers with 11 independent living, assisted living, and memory care communities in operation.
The loans are spread across two separate properties — $13.5 million to refinance a 123-unit senior living property in Fremont and $25.3 million to refinance a 126-unit senior living property in San Jose.
Both loans feature a fixed interest rate, 10-year term and 30-year amortization. One loan also provides funds for renovations to improve the San Jose property.
Lument’s Nick Hamilton and Casey Moore, both based in San Diego, led the transaction.