CBRE’s National Senior Housing team announced it refinanced an independent living community in California. Built in 2021, The Plaza at Lantern Crest comprises 113 units and sits on 3.8 acres in the town Santee (San Diego MSA). The four-story community features a plethora of amenities including an indoor swimming pool, fitness center, physical therapy office, outdoor theater, a restaurant and 1950’s diner, a bowling alley, a full-service bar, and a tea room.
Bill Chiles, Matt Kuronen and Michael Cregan of CBRE arranged a $38.3 million, 10-year loan with five years of interest only through its Freddie Mac Optigo lending platform on behalf of the borrower, The Grant Companies. Founded in 1989, The Grant Companies manages the acquisition, entitlement, development, financing, capitalization, construction, and marketing of residential, industrial, commercial, retail, restaurant and seniors housing communities.
