Working on behalf of The Powell Family, an active developer/operator of single family, multifamily, retail/commercial and seniors housing in the Seattle, Washington area, Mark Capeloto and Aron Will of CBRE arranged Freddie Mac financing for their 167-unit senior living community in Federal Way.
Situated on 12.87 acres, the community offers independent living and assisted living services in two main buildings and 30 cottages that feature one- and two-car garages. The property is also located less than one mile from St. Francis Hospital, part of one of the largest health care systems in the Puget Sound area. CBRE structured a $21.6 million floating-rate loan, with a seven-year term and 36 months of interest only.
