CBRE Capital Markets’ National Senior Housing team has arranged the sale and acquisition financing of The Solana Horsham, a 76-unit assisted living and memory care community in North Wales, Pennsylvania, for $31.5 million or $414,474 per unit.
Lisa Widmier and Matthew Whitlock of CBRE’s San Diego office represented the seller, ajoint venture between Capitol Seniors Housing and Formation-Shelbourne Partners.
CBRE originated a five-year, non-recourse floating rate loan with three years of interest-only from a regional bank for an undisclosed amount. Aron Will of CBRE’s Houston office secured the loan on behalf of the borrower.
Located at 1419 Horsham Road,The Solana Horsham is a newly constructed facility developed by the seller in 2013. The occupancy at the time of the offering was approximately 89 percent and at the time of closing was 95 percent.
CBRE’s National Senior Housing team consists of 16 professionals with more than half a century of combined senior housing experience. CBRE’s 2015 senior housing transaction volume of $2.8 billion (combined debt and sales) represented 20 percent of the estimated volume for the entire senior housing intermediary industry during the year. With over $3.6 billion in combined year-to-date transaction volume, 2016 deal flow has already exceeded 2015.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
