Newmark Arranges $140M Refi for Atlanta Sr. Housing Developer

Galerie Living has obtained a $140 million refinancing of the Corso Atlanta, a 203-unit seniors housing community located at 3200 Howell Mill Road in Atlanta.

Newmark’s Healthcare & Alternative Real Estate Assets group secured the 10-year Freddie Mac senior loan, featuring five years of interest-only payments, and arranged a preferred equity investment from Kayne Anderson Real Estate Debt. Newmark says it’s the first-ever Freddie Mac senior preferred equity hard pay structure for a seniors housing asset. Newmark’s Sarah Anderson, Chad Lavender, Ryan Maconachy, Mills Poynor and Ben McElroy facilitated the transaction. 

Corso Atlanta’s offers a range of services, including independent living, assisted living and memory care options. Other amenities include include chef-led dining options, a heated pool, a fitness center, a salon, multiple outdoor spaces, a theater and both a floral shop and gift boutique. 

Galerie Living is a senior housing development and management company that has been in business for over 25 years, has four brands, over 1,000 units delivered and 3,000 occupants.