Aron Will and Tim Root of CBRE successfully refinanced a brand-new memory care community in the central Washington town of Wenatchee. The 48-unit community just received its certificate of occupancy and expects to obtain its licensure shortly. Then, fill-up will commence. The property’s location in downtown Wenatchee, less than a quarter of a mile from one of the top regional hospitals, should help attract residents. It also features a number of high-end amenities, including a spa, solarium and beauty salon.
Bourne Financial Group owns the community in a joint venture with operator Cascadia Senior Living. Thanks to CBRE, they received a $9 million floating rate loan, with a five-year term and 36 months of interest only, from a regional bank.
