CBRE Arranges $28.2M Refinancing for Seniors Housing Property in Metro Houston
SUGAR LAND, TEXAS — CBRE has arranged a $28.2 million bridge loan for the refinancing of Overture Sugar Land, a 200-unit active adult community in the Houston suburb of Sugar Land. The community opened in 2017 and features a coffee bar and bistro, pool, yoga studio and access to nature trails. Aron Will, Austin Sacco and Adam Mincberg of CBRE arranged the nonrecourse, floating-rate loan with 18 months of interest-only payments on behalf of the borrower, Greystar. The lender was MF1 Capital, an alliance between Limekiln Real Estate, Berkshire Group and CBRE Capital Markets.