PGIM Real Estate announced its latest transaction, with Executive Director Chris Fenton leading the way. It involved a $10.6 million HUD refinance of a senior living community in Ashland City, Tennessee. Built in 2015 with 100 beds in 80 units, the community provides assisted living and memory care services in a four-story building.
Thunderhawk Management & Consulting is the operator and currently runs the property at 90% occupancy. There is also an on-site wellness center that hosts rehabilitation services and therapists.
The $10.6 million loan took out previous HUD debt and comes with a 35-year term.