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10-Property Seniors Portfolio Picks Up $222M Fannie Mae Loan
PGIM Real Estate recently arranged a $222-million Fannie Mae credit facility on behalf of the partnership of Blue Moon Capital Partners and Aegis Senior Living for a 10-property senior housing portfolio located across Northern and Southern California, Washington and Nevada. The 10-year interest-only loan is partially fixed-rate and partially floating-rate. It will be used to recapitalize the portfolio while allowing for additional flexibility and future expansions.
The properties are located across three states and five different markets. All of the properties are stabilized, offering a mix of assisted living and memory care units.
“In addition to the best-in-class sponsorship, the portfolio has a long and proven track record of high performance and the assets are located in supply-constrained geographically diverse markets,” says Trace Wilson, executive director at PGIM Real Estate who originated the loan on the firm’s behalf.
For comments, questions or concerns, please contact Lisa Brown
- ◦Financing
