CBRE National Senior Housing arranged acquisition financing for two senior housing communities: The Village of the Heights and The Village of Meyerland (together, the “Portfolio”) on behalf of Bridgewood Property Company (“Bridgewood”). The Portfolio will continue to be managed by The Aspenwood Company (“Aspenwood”), Bridgewood’s wholly owned management platform.
 
Aron Will, Vice Chairman of CBRE National Senior Housing, and Michael Cregan, Vice President of CBRE National Senior Housing, originated the $25.0M, 3-year floating rate loan with full-term interest only via a regional bank.
 
Built in 2015, The Village of the Heights sits on a 1.75-acre parcel in the historic Heights neighborhood of Houston and consists of 103 Assisted Living and Memory Care units. The Village of Meyerland was built in 2013 and sits on a 3.11-acre parcel along North Braeswood Boulevard in Southwest Houston. The community consists of 125 Assisted Living and Memory Care units. Both communities offer a variety of features and amenities including restaurant-style dining, full-service salons, and group fitness classes, among other market leading services.  
 
Houston-based Bridgewood is a privately held Texas Limited Partnership created in 2002 to capitalize on the senior living industry’s market dynamics of long-term growth, favorable demographics, advantageous societal trends and positive senior housing fundamentals. James D. Gray is the Founder and Principal of Bridgewood. Prior to the formation of Bridgewood, Mr. Gray was Co-Founder and President of Cypress Senior Living from its inception in 1997 until 2002. Mr. Gray has developed 20 senior living communities in various regions of the country and acquired another 20 communities, representing approximately 5,100+ residential units totaling $1.3B+ in asset value. Today, Bridgewood holds an ownership interest in over 2,300 Independent Living, Assisted Living and Memory Care units across 18 communities.
 
Aspenwood was formed as a Bridgewood affiliate to manage Bridgewood’s luxury senior living portfolio in Texas, Arkansas, North Carolina, and now, Tennessee. Bridgewood recognized the need to differentiate its luxury offering to better serve the high-end senior demographic. Aspenwood’s mission is to provide excellence in service to residents and excellence in returns to its capital partners. Aspenwood currently operates 20 senior housing properties throughout Texas with one under construction in Nashville, TN.

CBRE was the #1 Fannie Mae Senior Housing Lender in 2019 and 2016. From 2014 through 2024 YTD, CBRE originated over $12.7 billion in senior housing debt across 540 assets. CBRE completed over $24 billion in combined senior housing investment sales and loan originations from 2014 through 2024 YTD.

• #1 Fannie Mae Senior Housing Lender in 2019 and 2016
• #2 Senior Housing Freddie Mac Lender in 2021
• $12.7 Billion in senior housing debt originations from 2014 through 2024 YTD across 540 assets
• #1 Senior Housing Intermediary in 2017
• Top 3 Senior Housing Lender 2010-2023*
• #1 Agency originator in the nation in 2021: Over $14.0 billion in originations
• #1 Freddie Mac Lender in 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020
• #2 Freddie Mac Lender in 2021, 2022 and 2023
• #2 Fannie Mae Lender in 2020, 2021 and 2023
• $24 Billion in combined senior housing investment sales & debt originations from 2014 through 2024 YTD

*Fannie Mae, Freddie Mac, HUD/FHA, Mezzanine & Construction Debt Placement