Grandbridge Arranges $12M Loan for Seniors Housing Acquisition
GRAPEVINE, TEXAS — Grandbridge Real Estate Capital has arranged a $12 million permanent, fixed-rate loan secured by Dancing River of Grapevine. BB&T Real Estate Funding provided funding for the acquisition. The seven-year loan includes a 30-year amortization schedule with two years of interest-only payments. Dancing River of Grapevine is an 81-bed seniors housing complex with a mix of assisted living and memory care units. Amenities include an on-site salon, spa with massage services, library, fitness classes and private dining. Richard Thomas of Grandbridge originated the transaction for the undisclosed borrower.