126
THE WOODLANDS, TEXAS — CBRE has arranged a $38 million take-out loan for The Village at The Woodlands Waterway, a 207-unit seniors housing property in The Woodlands. This long-term financing replaces the original construction loan for the project. A joint venture between Houston-based Bridgewood Property Co. and Chicago-based Harrison Real Estate Capital, the Class A facility offers independent living, assisted living and memory care options plus amenities such as a library, convenience store, barber shop, fitness center and indoor pool. The five-year, floating-rate mortgage includes an all-in interest rate of 2.35 percent and 36 months of interest-only payments. Aron Will of CBRE arranged the refinancing.