After expanding its Chico, California senior living community a couple of years ago, Westmont Living refinanced the new development with a Freddie Mac loan arranged by Andrew Behrens, Aron Will, Austin Sacco and Adam Mincberg of CBRE. Set next to a lake within a master planned age-restricted community, the 80-unit assisted living expansion opened in 2017 to join the existing 138-unit senior living community that offers independent living, assisted living and memory care services.

Since Westmont took over operations in early 2006, the property has experienced consistently strong occupancy above 90%. In 2016, CBRE had arranged a $32.3 million Fannie Mae loan, with a 10-year, fixed-rate term and 4.5 years of interest-only, to refinance the original community. Now, the CBRE team has secured $24.5 million in Freddie Mac debt, again with a 10-year, fixed-rate term and five years of interest only, to help Westmont cash out the new development.