CBRE Arranges Refinancing for Two-Property CPF Living Portfolio in Arizona, Nevada
TUCSON, ARIZ., AND PAHRUMP, NEV. — CBRE has arranged the refinancing of The Echelon of Tucson in Tucson and Inspirations Senior Living in Pahrump.
The portfolio totals 140 independent living units, 60 assisted living units and 12 memory care units. The borrower was CPF Living Communities.
Aron Will of CBRE National Senior Housing arranged the three-year, floating-rate loan with 36 months of interest-only payments. Grace Management, CPF Living’s management subsidiary, will continue to operate the properties.
The amount of the loan was not disclosed. CPF Living acquired the communities in 2016, and projects that both properties will reach stabilization in 2019.