HOUSTON--CBRE Capital Markets' Debt & Structured Finance team has secured $49.7 million in construction financing for The Village of River Oaks, a 195-unit, class A senior housing community located in Houston.
CBRE secured a six-year floating-rate loan, which includes interest-only for four years at an all-in-rate of 2.33 percent. Financing was provided by a regional bank.
Aron Will and Austin Sacco of CBRE's Houston office arranged the financing on behalf of the borrower, a joint venture between Bridgewood Property Co. and Harrison Street Real Estate Capital.
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