BWE, a leading real estate firm, has successfully secured $57.8 million to refinance Keystone Villa at Douglassville in Pennsylvania. This premier senior living community offers 247 units of Class A independent living, assisted living, and memory care services.
The loan was obtained by Ryan Stoll, national director of Seniors Housing and Care at BWE, and Taylor Mokris, senior vice president of Seniors Housing and Care. They were able to secure the funds from a reputable national Commercial Bank with attractive terms such as non-recourse structure prepayment flexibility, competitive interest rate,and full-term interest-only payments.
This financing was arranged on behalf of a joint venture between ReNew REIT,a private investment trust,and Heritage Senior Living,the operator for Keystone Villa at Douglassville.The property is located at 1152 Ben Franklin Highwayand consists of two buildings: one built in 2015 with123 independent living units,and another constructed in 2011 featuring125 assisted living and memory care units.At the timeof closing,the occupancy rate stood strongat92%,indicating excellent operational performance.
Overall,this successful refinancing deal highlights BWE’s expertisein securing favorable financing options for its clientsin the seniors housing sector.This news was originally reported by Connect CRE.
