BWE secured $46.0 million in permanent financing for a Class-A seniors housing community in Cypress, California. Built in 2022, Westmont of Cypress comprises 129 independent living, assisted living and memory care units. That results in about $356,500 per unit of debt. It experienced good lease-up, with occupancy above 95%.
Ryan Stoll and Taylor Mokris originated the non-recourse loan on behalf of the borrower from a life insurance company, establishing a new lending relationship between the two in the process. The loan came with a competitive fixed rate and flexible prepayment.
