CBRE National Senior Housing arranged a refinancing of a six-property senior housing portfolio (the "Portfolio" or the “Communities”) on behalf of a joint venture between Monarch Alternative Capital LP ("Monarch") and REDICO (collectively, the "Sponsor"). American House Senior Living Communities ("American House SLC"), an affiliate of REDICO and a best-in-class senior care provider, will continue to manage the Portfolio.
 
Aron Will, Vice Chairman of CBRE National Senior Housing, and Adam Mincberg, Senior Vice President of CBRE National Senior Housing, originated a $154.5MM loan, marking CBRE’s second financing of the Portfolio within a three-year time span. Marathon Asset Management, a New York based lender focused on creative capital solutions provided the loan.

The Portfolio consists of six premier, purpose-built senior housing communities encompassing 817 total units comprised of 409 Independent Living units, 306 Assisted Living units, and 102 Memory Care units all located in performing Florida markets experiencing positive macroeconomic trends.
 
About Monarch Alternative Capital LP
 
Monarch Alternative Capital LP is a global investment firm founded in 2002 with nearly $16 billion in assets under management. Monarch focuses primarily on opportunistic credit and real estate across various market segments and instrument types. Monarch draws on the skills and experience of its employees across its offices in New York, London, and West Palm Beach. For more information, please visit www.monarchlp.com.
 
About REDICO
 
Founded in 1967 and based in Southfield, Michigan, REDICO is a leader in national real estate development, investment, construction, and property management. With a bold vision and meticulous planning, REDICO has expanded its activities across a variety of real estate asset classes, including senior housing, office, retail, and multi-family. The company's objective is to develop, acquire, and manage best-in-class assets, and its experienced team successfully leads projects from inception to completion across various markets nationwide.
 
About American House Senior Living Communities
 
Founded in 1979, American House SLC has been the leading senior housing provider in the 2nd largest Midwest market by senior population. American House SLC has grown to more than 60 communities, with extensive presence in Michigan and throughout the Midwest, Southeast, and New England. American House SLC has expanded their operational footprint in the state of Florida through developments and strategic core acquisitions currently owning and operating 10 communities in the state alone. American House SLC is a clear leader in Florida, the largest operator in Michigan, and widely regarded as one of the top Midwest based operators. Per ASHA’s 2023 Top 50 Owners, American House SLC ranks as the #25 Top Operator with 69 communities across nearly 7,231 units.
 
About Marathon Asset Management
 
Marathon Asset Management, L.P. is a leading global asset manager specializing in the Public and Private Credit markets with over $23 billion of assets under management. Marathon has dedicated investment programs spanning the spectrum of Private Credit: Direct Lending, Asset-Based Lending and Opportunistic as well as the spectrum of Public Credit. Marathon was founded in 1998 and is managed by Bruce Richards (Co-Founder & CEO) and Louis Hanover (Co-Founder & CIO) and employs more than 180 professionals, with 8 Partners. Its corporate headquarters are located in New York City, and it has offices in London, Miami, Los Angeles and Luxembourg. Marathon is a Registered Investment Adviser with the Securities Exchange Commission. For more information, please visit the company's website at www.marathonfund.com.

CBRE was the #1 Fannie Mae Senior Housing Lender in 2019 and 2016. From 2014 through 2024 YTD, CBRE originated over $13 billion in senior housing debt across 557 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
• $13.2 Billion in senior housing debt originations from 2014 through 2024 YTD across 557 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