CBRE Arranges $17.5M Fannie Mae Refinancing for Seniors Housing Community Near Seattle
ISSAQUAH, WASH. — CBRE has arranged a $17.5 million in Fannie Mae financing for Fieldstone Memory Care of Issaquah, a 60-unit memory care community.
The borrower is a joint venture between Bourne Financial Group and Cascadia Senior Living. The loan will refinancing existing debt.
The community is situated within the affluent submarket of Issaquah, where the average home value is $757,114 within a five-mile radius of the property. It is located less than 1.5 miles from a full-service, 175-bed hospital.
Aron Will, Austin Sacco and Tim Root of CBRE National Senior Housing originated the 10-year, fixed-rate loan with three years of interest-only payments.