The CBRE team showed their strength in their latest two transactions. First, it was announced that not only did Lisa Widmier represent a publicly-traded REIT in its sale of a 120-unit assisted living community in Sterling Heights, Michigan to Chicago Pacific Founders, but Aron Will arranged the acquisition financing too. Through CBRE’s Freddie Mac Seller Servicer direct lending program, Mr. Will secured a $15.5 million, floating rate loan, with a 10-year term and 60 months of interest only. Chicago Pacific Founders’ wholly owned subsidiary Grace Management will take over operations.
Separately, Mr. Will was joined by Kevin Randles to arrange a fixed-rate Fannie Mae loan in another deal. The borrower, Ray Stone, Inc., used the loan proceeds to refinance its 126-unit independent living community in Sacramento, California, which it has owned and operated since 1991.
