SunTrust Bank’s ears must have been burning, because on the day of our webinar, Bridge Loans: The Hottest Lending Product for Seniors Housing and Care (which you can still listen to here), the bank originated a $31 million bridge loan for an independent living community in Colorado Springs, Colorado.
Just completed earlier this year, the community is geared to higher income residents and boasts a number of modern amenities. It was developed by The Wolff Company, an Arizona-based private equity firm that is developing a number of luxury senior living properties a year with operating partner Clearwater Living (which will also manage the Colorado Springs community).
Artin Anvar of SunTrust CRE and Nadia Mahmoud of SunTrust Bank Institutional Private Capital originated the three-year bridge loan, while Nicole Brickhouse and Leon McBroom of HFF helped arrange the financing.
