Tennessee-based affiliates of Morning Pointe Senior Living announced that they have received $106.2 million in financing for an eight-property seniors housing portfolio. Located across Kentucky (1) and Tennessee (7), the portfolio comprises a total of 567 units. Completed between 1997 and 2021, the seniors housing communities offer assisted living and memory care services, featuring a mix of studio, alcove, one- and two-bedroom floorplans.
Neal Raburn of Greystone originated the Freddie Mac Optigo loans on behalf of the borrower. The fixed-rate, non-recourse financing was structured through Freddie Mac’s Index Lock program and carries a 10-year term with a 30-year amortization period. With five years of interest-only payments, the owner has access to supplemental loan financing at up to 75% loan-to-value.
