Galerie Living has successfully secured a $140 million refinancing for their senior housing community, Corso Atlanta. The property, located at 3200 Howell Mill Road in Atlanta, consists of 203 units and offers a variety of services such as independent living, assisted living and memory care.
The financing was arranged by Newmark’s Healthcare & Alternative Real Estate Assets group and includes a 10-year Freddie Mac senior loan with five years of interest-only payments. Additionally, Kayne Anderson Real Estate Debt provided preferred equity investment for the project. This marks the first time that Freddie Mac has offered this type of structure for a seniors housing asset.
The transaction was facilitated by Newmark’s team consisting of Sarah Anderson, Chad Lavender, Ryan Maconachy Mills Poynor and Ben McElroy.
Corso Atlanta boasts numerous amenities including chef-led dining options,a heated pool,f fitness center,salon,multiple outdoor spaces,theater,and even its own floral shop and gift boutique.
Galerie Living is an experienced senior housing development company with over 25 years in business. They currently have four brands under their management portfolio totaling over 1 ,000 units delivered to date with approximately3 ,000 occupants residing within them.
