HOUSTON — CBRE has negotiated the sale of The Village at River Oaks, a Class A independent living, assisted living and memory care community in the River Oaks neighborhood of Houston.
Harrison Street and Bridgewood Property Co. sold the asset to a fund affiliated with Blue Moon Capital Partners. The price and number of units were not disclosed.
CBRE’s National Senior Housing team members John Sweeny, Aron Will, Garrett Sacco and Scott Bray represented the seller in the deal.
CBRE National Senior Housing’s debt and structured finance team of Aron Will, Tim Root and Michael Cregan arranged acquisition financing for the buyer. A regional bank provided the seven-year, nonrecourse, floating-rate loan with 48 months of interest-only payments.
Bridgewood’s wholly owned management company, The Aspenwood Co., will continue to operate the community following the sale.
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