Ziegler, a specialty investment bank, in partnership with M&T Realty Capital Corporation, announced its role as financial advisor in a $105.6 million Freddie Mac refinancing on behalf of The Ridge Senior Living to underwrite the existing debt on The Ridge Pinehurst, its high-end senior living community community in Lakewood, Colorado. The 371-unit community began opening in phases in September 2020 and features independent living, assisted living and memory care services.
The original 10-year, fixed-rate loan was structured with five years of interest-only payments, followed by 30-year amortization. The refinance provided The Ridge with a long-term fixed-rate loan to replace the original floating rate construction loan.
Eric Johnson, a managing director in Ziegler’s Senior Housing & Care Finance Practice, arranged and negotiated the transaction. Managing Director Matt Henning, Seniors Housing Program Manager Matthew Pipitone and Managing Director Nick Gent led the transaction for M&T.
