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CBRE Arranges $24.5M Freddie Mac Refinancing for Seniors Housing Community in Northern California

Inn-Terraces-Chico-CA

The Inn at the Terraces in Chico, Calif., features 80 assisted living units for seniors.

CHICO, CALIF. — CBRE has arranged $24.5 million in financing for Westmont Living. The funds will refinance existing debt on The Inn at the Terraces of Chico, an 80-unit assisted living property located 90 miles north of Sacramento in Chico. The average housing value within a one-mile radius of the property is $514,032, while average household income sits at $103,847.

Andrew Behrens, Aron Will, Austin Sacco and Adam Mincberg of CBRE National Senior Housing arranged the Freddie Mac financing. The 10-year, fixed-rate, cash-out loan features 72 months of interest-only payments. CBRE also financed the first phase of the development via agency debt in 2016.

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