REBusinessOnline

CBRE Provides $12.3M Refinancing for Seniors Housing Community in Metro Nashville

The Rutherford Assisted Living & The Rutherford Memory Care features 68 assisted living units and 26 memory care units across two buildings.

MURFREESBORO, TENN. — CBRE has provided a $12.3 million Freddie Mac loan for The Rutherford Assisted Living & The Rutherford Memory Care in the Nashville suburb of Murfreesboro. The seven-year, fixed-rate loan features 24 months of interest-only payments and includes cash-out proceeds. The property features 68 assisted living units and 26 memory care units across two buildings. Aron Will, Austin Sacco and Adam Mincberg of CBRE National Senior Housing originated the refinancing on behalf of a joint venture between Venue Capital LLC and Inspirit Senior Living, which acquired the asset in January 2018. Post-acquisition, the owners deployed more than $600,000 to renovate the property, driving occupancy from 73 percent to approximately 90 percent.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Webinars on Demand


Conferences


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties