2004 Transactions
Tremont Structures $15,510,000
in Two Assisted Living Facility Loans
The
Boston office of Tremont Realty Capital structured the senior
mortgage financing of two assisted living facilities, The
Fairways, an 80-unit center located in Wickliffe, OH and
Noble Village at Johns Creek, a 76-unit center located in
Suwanee, GA.
Dennis Walsh, a Senior Director with Tremont,
arranged the $15,510,000 in financings, which were funded
through a correspondent bank's Freddie Mac Program Plus
loan program. The two separate loans included a competitive
fixed rate of interest for a 7-year term and 25-year amortization.
The borrowers are an affiliate of a National Pension Fund
Advisor and recently acquired the assets. According to Walsh,
"our client was extremely pleased with the competitive
pricing of the debt and the level of proceeds. Given the
current low interest rate environment, the borrower was
able to lock-in an attractive interest rate, as well as
create future value to its equity investment."
For additional information on this transaction,
please contact:
Dennis Walsh
Senior Director
Email: dwalsh@tremontcapital.com
Phone: 617.867.0700 x782
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