CBRE Capital Markets professionals continue to prove that the market is open by working with owners and investors to provide creative sales and debt solutions for their clients. Below are the highlights of a recently completed loan origination:
The Solana at Horsham:
CBRE National Senior Housing has arranged the sale and acquisition financing for The Solana at Horsham (the “Property”), a 76 unit, Class “A” Assisted Living and Memory Care community located in North Wales, Pennsylvania (Philadelphia MSA). Lisa Widmier, Executive Vice President of CBRE National Senior Housing and Matthew Whitlock, Executive Vice President of CBRE National Senior Housing, represented the seller. Aron Will, Vice Chairman of CBRE National Senior Housing, arranged the acquisition financing on behalf of Sage Senior Living ("Sage") and an institutional joint venture partner.
CBRE secured a non-recourse, 5 year floating rate loan that includes 36 months of interest only from a regional bank. Sage will assume management of the Property.
Founded in 2005 by Kelly Cook Andress, Sage is a high-quality, regional owner/operator of class “A” senior housing communities in New England. The subject Property represents Sage’s sixth community under management and third community located in the Philadelphia MSA.
In 2015, CBRE originated over $1.5+ billion in senior housing debt across 72 assets. CBRE completed over $2.8 billion in combined senior housing investment sales and loan originations in 2015. CBRE has been a Top 2 senior housing originator in the country from 2010 through 2015 and was the #1 Senior Housing/Age Restricted Lender in the U.S in both 2013 & 2014.