LAKEWOOD, COLO. — Ziegler, in partnership with M&T Realty Capital Corp., advised on a $105.6 million Freddie Mac refinancing on behalf of The Ridge Senior Living.
The loan is for The Ridge Pinehurst, a luxury independent living, assisted living and memory care community in Lakewood, a suburb of Denver. Ridge began opening the 371-unit community in phases starting in September 2020.
The original 10-year, fixed-rate loan was structured with five years of interest-only payments, followed by 30-year amortization. The refinancing provided The Ridge with a long-term, fixed-rate loan to replace the original floating-rate construction loan.
Eric Johnson of Ziegler arranged and negotiated the transaction. Matt Henning, Matthew Pipitone and Nick Gent led the transaction for M&T.