A New Institutional Buyer Lands in Plymouth, Minnesota
A joint venture between The Waters Senior Living and an institutional partner has acquired a recently built assisted living/memory care community in Plymouth, Minnesota, with the help of financing arranged by Aron Will of CBRE. The Waters originally developed and has operated the property in Plymouth, a high-income suburb of Minneapolis. With 61 assisted living and 28 memory care units, the community will still be managed by The Waters. To fund the deal, CBRE secured a $16.25 million floating rate loan from a national bank, with a three-year term that is interest only. That structure seems to be the sweet spot for the prolific Mr. Will. Read More »Will and The Waters
Going through a life insurance company, Aron Will of CBRE arranged acquisition financing on behalf of a joint venture looking to acquire a 139-unit assisted living/memory care community in Edina, Minnesota. In the affluent suburb of Minnesota, the community was built in 2013 with 97 AL and 42 MC units near a local hospital. Mr. Will worked with a joint venture between an institutional client and The Waters Senior Living in securing a $33.15 million seven-year acquisition loan, with a fixed rate and 18 months of interest-only. Read More »Schedule a demo
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