After closing a scattered site HUD loan for a portfolio of three assisted living communities in Maryland, PGIM Real Estate stuck with the agency financings by closing a $19 million Fannie Mae refinance of a senior living community in Hardy, Virginia (Roanoke MSA). Built in 2009 and recently expanded, the 102-unit community has independent living, assisted living and memory care services along with a host of amenities, including membership to the nearby Carillon Wellness at West Lake, a wellness center with an indoor pool, group exercise classes and a gym. The expansion featured 37 new units and was overseen by the operator, Runk & Pratt Senior Living Communities.
Chris Fenton led the loan closing for PGIM, which totaled $19 million and came with a 10-year term and a fixed interest rate.
