CBRE Arranges $14.4M Acquisition Financing for Two Seniors Housing Properties in Metro Denver
AURORA AND LAKEWOOD, COLO. — CBRE has arranged $14.4 million in financing for the acquisition of a seniors housing portfolio in Colorado.
The borrower is a joint venture between Cadence Living and a private equity firm. The two communities, located in the Denver suburbs of Aurora and Lakewood, total 152 assisted living units and 35 memory care units.
The joint venture plans to deploy $4 million for improvements to the two communities, the names of which were not disclosed.
Aron Will, Austin Sacco and Matthew Kuronen of CBRE National Senior Housing arranged the four-year bridge loan with 36 months of interest-only payments and a one-year extension option. The lender is a regional bank.