CBRE Arranges $24.9M Refinancing for 102-Unit Seniors Housing Community Near San Diego
The Pointe at Latern Crest opened in 2012 and offers assisted living and memory care units.
SANTEE, CALIF. — CBRE Capital Markets’ Debt & Structured Finance team has arranged a $24.9 million loan for The Grant Companies to refinance The Pointe at Lantern Crest, a seniors housing community in the San Diego suburb of Santee.
CBRE’s Bill Chiles, Scott Peterson and Brian Cruz secured a 10-year loan through Freddie Mac. The loan will refinance the existing construction loan.
The Pointe at Latern Crest opened in 2012 offering assisted living and memory care units. The second phase, which was completed in 2015, added independent and assisted living.
The Grant Companies was formed in 1989 as a joint venture between three California corporations. The company has developed or constructed more than $500 million in medical office buildings, apartment complexes, industrial buildings, shopping centers, motels, restaurants and mixed-use developments.