CBRE Closes Two Bank Financings for Senior Living Clients

CBRE Closes Two Bank Financings for Senior Living Clients

Aron Will of CBRE ended July with two bank financings for senior living clients in three states. First, in Texas, he was joined by Austin Sacco and Adam Mincberg to refinance two 76-unit assisted living/memory care communities in Boerne (San Antonio MSA) and Round Rock (Austin MSA). Both properties were developed by a joint venture between Harrison Street Real Estate Capital and Franklin Development Properties in 2017, and have been managed by Franklin Development’s operating affiliate. To refinance the original construction debt, CBRE secured a three-year, floating-rate loan with 24 months of interest only from a national bank. Then, that CBRE trio was joined by Tim Root to refinance... Read More »