CBRE arranged acquisition financing for The Arbors of Gulf Breeze on behalf of CPF Living Communities. Aron Will and Tim Root arranged a five-year fixed rate loan through the Freddie Mac Optigo lending platform.
Built in 2018, The Arbors consists of 132 units with 51 independent living, 58 assisted living and 23 memory care units in Gulf Breeze, Florida, 2,000 feet from Gulf Breeze Hospital (the area’s only five-star hospital and part of the Baptist Health Care network). The community was stabilized and 96% occupied at closing. It will be managed by Grace Management, CPF’s wholly owned management affiliate.
Brad Clousing, Daniel Geraghty, Jeff Binder and Jason Punzel of Senior Living Investment Brokerage handled the acquisition of this community by Chicago Pacific Founders and its subsidiaries, CPF and Grace. The seller was a local partnership that had reached the end of its investment horizon. Based on the age, performance and quality of the community, we would guess it traded around a market cap rate for similar assets, around 7.5% in today’s environment.
