CBRE pulled doubly duty for a pair of assisted living/memory care communities in Houston, Texas, arranging both the sale on behalf of the seller and acquisition financing for the buyer. Dubbed “The Village Portfolio,” these communities total 224 units and are located within a 10-mile radius of the largest medical center in the world, the Texas Medical Center.
Although a new institutional investor will replace the previous institutional owner, Bridge Property Company, through its wholly owned management affiliate Retirement Center Management, will continue in its role as operator. Lisa Widmier represented the seller in the transaction, while Aron Will and Austin Sacco helped arrange two separate five-year, non-recourse, floating-rate loans on an interest only basis from a debt fund.
