CBRE Senior Housing’s Aron Will, Austin Sacco and Tim Root have arranged acquisition financing for a 113-unit senior living community in Tuscaloosa, Alabama on behalf of a joint venture between Winterpast Capital Partners and Broadview Real Estate Partners. The $9.5 million, non-recourse, four-year loan has a full-term of interest only and an extension option through a regional bank.
Pine Valley Retirement Community comprises 98 independent living units (including 38 patio homes) and 15 assisted living units, and features an activity room, garden and a beauty salon. The venture intends to put $2.4 million into it for capital improvements following the closing of the deal. Vitality Living, Winterpast Capital Partners’ wholly-owned subsidiary, will operate the community going forward.
