(To read more on the debt and equity markets, click here to read more on the multifamily market, click here.)

OWINGS MILLS, MD-The original construction loan for Atrium Village has been repaid, courtesy of the closing of a $38.5-million financing transaction. The borrowers--owners First Atrium Village Investment LLC, LifeBridge Health Systems and Genesis Eldercare subsidiary Genesis Health Ventures Inc.--used the proceeds from the seven-year permanent loan to pay the original institutional development partners for the cost of the 262-unit senior living property's construction.

Andrew Weiss, Matthew Texler and Bob Neighoff of the Maryland office of New York-based Meridian Capital Group orchestrated the deal on behalf of the borrowers. Atrium Village has been refinanced before, with the owners having taken out a $16-million bridge loan on the property two years ago.

Atrium Village occupies an approximately seven-acre parcel at 4730 Atrium Court, just off I-795 in Baltimore County and about 14 miles outside of the City of Baltimore. Developed in 2001, the 241,000-sf facility consists of four wings in a six-story building housing independent-living residences, as well as assisted-living units. As per Baltimore County real estate records, the property has a current assessed value of $18.7 million.