BWE closed a $35.3 million permanent loan for a seniors housing community in Fairfield, Connecticut. Taylor Mokris, Senior Vice President of Seniors Housing and Care at BWE, and Ryan Stoll, National Director of Seniors Housing and Care, led the financing.
The 10-year, fixed-rate loan was provided through Freddie Mac on behalf of the borrower, one of the top institutional owners of seniors housing in the country. A 2023 transaction in LevinPro LTC’s M&A database shows Ventas as the buyer, for a price of $26.5 million, or $267,700 per unit. The loan featured full-term interest only and an extremely competitive interest rate. By moving quickly through underwriting and locking the index at its floor, exceptional pricing was secured for the sponsor.
Sturges Ridge of Fairfield is an 88-unit, 99-bed community that opened in 2018 and sits adjacent to downtown Fairfield. It offers both assisted living and memory care and is operated by Benchmark Senior Living. The community’s strong occupancy and strong operating history supported favorable loan terms.
