PHOENIX — Hunt Real Estate Capital has provided a $7 million bridge loan for the acquisition of Hawthorne Court at Ahwatukee, a seniors housing property located in the Ahwatukee area of Phoenix.
The borrower is a joint venture partnership between Pasadena, Calif.-based CALCAP Real Estate Advisors and Greg Roderick, president and CEO of Frontier Management. Brady Johnson, Kathryn Burton Gary and Michael Jones of Hunt Real Estate Capital originated the 24-month loan, which features interest-only payments for the entire term.
Built in 2000 and renovated in 2016, Hawthorne Court features 44 memory-care units in a mix of private and semi-private rooms, all with private bathrooms. On-site amenities include an outdoor courtyard and patio, dining room, lounge area, activity room, beauty salon and open-concept sitting space.
The seller was Senior Resource Group, represented by Blueprint Healthcare Real Estate Advisors.