BWE secured a refinance for a Class-A senior living community in Florida. The sponsor is a joint venture between Meridian Senior Living and Buvermo Investments Inc. Managed by Meridian, Gentry Park Orlando has a 92-unit independent living building and an 84-unit assisted living and memory care building. The independent living community, which features one- and two-bedroom units, achieved stabilization in less than a year, and is currently at 98% occupancy. The assisted living community offers studio, one-, and two-bedroom units.
Taylor Mokris secured the five-year bridge loan, which has a competitive floating rate, two years of interest-only payments, a structured earnout, flexible prepayment and no deposit requirements, via a national bank.
