CBRE Arranges $91.8M Refinancing for Seniors Housing Portfolio in California
WALNUT CREEK, CALIF. — CBRE has arranged $91.8 million in financing for DiNapoli Capital Partners (DCP), an investor based in Walnut Creek. The funds will refinance existing debt on a five-property, 560-unit seniors housing portfolio located in California.
Integral Senior Living manages three of the communities, located in Los Angeles area, and Westmont Senior Living manages the remaining two communities, located in the Sacramento area.
DCP bought each of the assets within the portfolio separately as value-add acquisitions. The financing package comes at the end of the company’s repositioning plan for the properties.
Andrew Behrens of CBRE Multifamily Institutional Group, along with Aron Will, Austin Sacco and Adam Mincberg of CBRE National Senior Housing, arranged the transaction. The 10-year Fannie Mae loan includes five years of interest-only payments.