Greystone Provides $37 Million Fannie Mae Loan to Refinance Seniors Housing Property in Texas
October 8, 2019
Greystone announced it has provided a $37,000,000 Fannie Mae seniors loan to refinance an independent living community located in Pearland, Texas. The transaction was originated byCary Tremper, on behalf of Integrated Real Estate Group (IREG) and their affiliated operator, Integrated Senior Lifestyles (ISL).
The 10-year senior mortgage refinances Watercrest at Shadow Creek Ranch, a 222-unit independent living community that was constructed in 2017 offering one-bedroom, two-bedroom, three-bedroom, and villa residences. This community offers residents a la carte services, including full services with meals and housekeeping.
Watercrest at Shadow Creek Ranch also offers residents a number of amenities geared toward a healthy lifestyle, including country-club style clubhouse with a robust activities program; heated indoor pool; beautiful courtyards with planter gardens and canal walks adjacent to the grounds.
“The IREG/ISL family of Companies develop, build and operate incredible seniors housing communities,” said Mr. Tremper. “We are thrilled to have worked with the IREG industry professionals on a financing solution that best fits their needs as they continue to grow their seniors housing portfolio.”