CHICAGO and SAN JOSE — Bellwether Enterprise Real Estate Capital LLC (BWE) has arranged two separate transactions totaling over $47 million to refinance two assisted living and memory care communities.
The first is a $28.8 million loan to refinance an assisted living and memory care community in the Chicago metropolitan area on behalf of affiliates of a senior housing-focused private equity firm. The second is an $18.6 million loan to refinance an assisted living and memory care community in San Jose on behalf of affiliates of Westmont Living.
Ryan Stoll and Taylor Mokris originated the loans through regional banks on behalf of the borrowers.
“In today’s challenging operating and capital markets environment, seniors housing owners need flexible financing to be able to execute their project-level and fund-level investment strategies,” says Stoll.
The loans included interest-only periods and covenant structures, among other benefits to the borrowers. The Chicago loan includes a four-year term with a 30-year amortization, and the San Jose loan includes a four-year term. In each case, the loans were placed with a regional bank with a national focus on seniors housing, which established new strategic banking relationships for the borrowers.
The post Bellwether Arranges $47M Refinancing for Communities in Chicago, San Jose appeared first on Seniors Housing Business.
Be First to Comment