CBRE Senior Housing’s Aron Will, Austin Sacco and Adam Mincberg arranged a $10 million floating-rate bridge loan on behalf of a joint venture between Capitol Senior Housing and a large university endowment.
Emerald City Senior Living, a 119-unit assisted living and memory care community in Seattle, Washington, will receive the financing. Built in 2006, the community features amenities including a beauty salon, library and fitness center. Integral Senior Living will operate the community.
The loan has a two-year term with full-term interest only and extension options and originated through CBRE’s proprietary multifamily bridge lending program, MF1 Capital, LLC.
