CBRE National Senior Housing handled two refinancings in separate transactions. First, CBRE arranged a refinance of Bruceville Point on behalf of a joint venture between Tenfold Senior Living and AEW Capital Management. Tenfold manages and operates the community. Aron Will and Tim Root originated a three-year floating-rate loan with full-term interest only through a regional bank.
Bruceville Point is a 137-unit, Class-A seniors housing community in Elk Grove, California. It offers independent living, assisted living and memory care. The common areas include three dining venues (including a bistro), club room, living room, movie theater, fulltime staffed fitness studio, art studio, beauty salon and outdoor recreation space (including bocce court).
Next, CBRE arranged a refinancing for Andara by Cogir on behalf of Fortress Investment Group. The community is operated by Scottsdale-based Cogir Senior Living and owned by funds managed by affiliates of Fortress. Will and Root arranged the four-year, floating-rate loan with 36 months of interest only through a debt fund.
The newly renovated community has 170 units in Scottsdale, Arizona. Situated on 3.8 acres, the community’s amenities include a heated swimming pool and spa, theater, arts/crafts, fitness center, library, billiards, beauty salon, bocce ball court, and more.
