Grandbridge Real Estate Capital Closes $30M Refinance for Seniors Facility in Metro Raleigh

CARY, N.C. — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team based in Atlanta has arranged a $30 million refinance loan for Woodland Terrace of Cary. The 176-unit, 184-bed seniors housing community is located in Cary, about 12 miles west of Raleigh. The property features a four-story independent living building, a one-story Alzheimer’s/memory care building and 11 independent living duplex cottages. Woodland Terrace’s common areas include a lobby, main dining room, private dining room, craft/exercise room, library, small guest apartment, card room, billiards area, chapel, TV room, beauty/barber shop and six laundry rooms. The property was 98 percent occupied at the time of sale. Richard Thomas of Grandbridge originated the five-year, interest-only loan with a 30-year amortization schedule through Freddie Mac.