Prevarian Senior Living Snags $9.3M Fannie Mae Loan

Prevarian Senior Living, with help from Capital One Healthcare, secured a $9.3-million Fannie Mae fixed-rate loan to refinance its Arbor Assisted Living and Memory Care facility in Nacogdoches, TX. The sponsor is using the proceeds to retire existing debt, and to recapture the invested equity to expand the property.

The Arbor came online in the late 1990s at 3002 Westward Dr. When it first opened, the facility had 36 units. Prevarian acquired the asset in 2015, expanding it by 23 units. Also added was additional common space area.

Prevarian, a repeat Capital One customer, owns seven assisted-living and memory care properties in Arizona, Florida, Oklahoma and Texas. With all of its properties, Prevarian aligned or partnered with local healthcare systems, becoming part of the local post-acute care continuum.

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