BWE Secures $27M for Levittown Assisted Living and Memory Care Community
Bellwether Enterprise Real Estate Capital has announced the closing of a $26.66 million loan to refinance the Village Green, an assisted living and memory care community in Levittown, New York. The loan was secured through a top-40 regional bank on behalf of the borrower, a regional developer and owner of seniors and affordable housing.
The loan has a three-year term with a 30-year amortization period, 24 months of interest-only payments, and a sub-300 loan spread. The loan is aimed to help the borrower execute its business plan and serve the care needs of its residents and families.
Taylor Mokris and Ryan Stoll from Bellwether Enterprise Real Estate Capital originated the loan. “During one of the more turbulent lending environments in recent history, with rising interest rates, inflation and a banking crisis all impacting the liquidity of the seniors housing debt market, we are proud that this deal will enable our client to continue to execute their business plan, ultimately serving the care needs of their residents and families,” said Mokris.