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CBRE Arranges Acquisition Financing for Seven-Property Portfolio in Florida, Illinois, Michigan

NEW YORK CITY and SOUTHFIELD, Mich. — CBRE National Senior Housing has arranged recapitalization and acquisition financing for seven seniors housing communities across three transactions on behalf of a joint venture between New York-based Monarch Alternative Capital LP and Southfield-based REDICO.

Aron Will, John Sweeny, Austin Sacco and  Adam Mincberg arranged the financing. American House Senior Living Communities, an affiliated company of REDICO, will manage the communities

The seven communities total 1,133 independent living, assisted living and memory care units in Florida, Illinois and Michigan.

The Florida Portfolio comprises American House Bluewater Bay, American House Bonita Springs, American House Coconut Point, American House Fort Myers and American House Wildwood. American House Cedarlake is a 178-unit independent living and assisted living community in Plainfield, Illinois, within the Chicago MSA. American House Lakeshore, located in St. Clair Shores, Michigan, consists of 138 independent living and memory care units that provide residents with lakefront views.

Across the three transactions, CBRE secured more than $200 million in loan proceeds via Freddie Mac’s OPTIGO lending platform, as well as a debt fund.

The post CBRE Arranges Acquisition Financing for Seven-Property Portfolio in Florida, Illinois, Michigan appeared first on Seniors Housing Business.

Source: Senior Housing Business

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