Corley Audorff, Troon Dowds and Josh Williams of Colliers Mortgage arranged a $38 million refinance of a 159-unit seniors housing community in Bryan, Texas. Featuring independent living, assisted living and memory care units, the community is part of a larger 1,000-acre, master planned community, adjacent to a golf and country club, and has close ties with Texas A&M University, located only a few miles away. The loan carries a three-year term on an interest-only basis for the first two years and was arranged for an undisclosed borrower.
The transaction comes after Messrs. Audorff and Williams were joined by Nick Skarich and Steven Marx to close a bridge acquisition loan for a portfolio of three skilled nursing facilities in Texas. Totaling 358 beds and enrolled in QIPP, the facilities will also receive about $3.5 million in renovations from the undisclosed borrower/buyer. They obtained an $11.8 million loan with a three-year term, two one-year extensions and an interest-only period.
