Ryan Stoll, and Taylor Mokris secure loan from a national commercial bank
Douglassville, PA — BWE has secured $57.8 million to refinance Keystone Villa at Douglassville, a 247-unit, class A independent living, assisted living, and memory care community.
Ryan Stoll, national director of Seniors Housing and Care at BWE, and Taylor Mokris, senior vice president of Seniors Housing and Care, secured the loan from a national commercial bank, which features a non-recourse structure prepayment flexibility, a competitive rate, and full-term interest-only payments. The loan was secured on behalf of a joint venture between private investment trust ReNew REIT and operator Heritage Senior Living.
“To deliver the best results for the borrower, our team sorted through a complex and competitive process to determine which lender offered loan terms best tailored to the joint venture’s needs. Ultimately, the sponsor was able to forge a new relationship with a national commercial bank who offered just that,” said Stoll. “We pride ourselves in being execution agnostic when it comes to finding the right capital solution for a project, making it easy for our partners to trust they will always end up with the best lender and loan for their unique needs.”
Keystone Villa at Douglassville, located at 1152 Ben Franklin Highway, is comprised of a 123-unit independent living building, and a 125-unit assisted living and memory care building constructed in 2011.
Located in a vibrant suburb of Philadelphia, Keystone Villa features a host of amenities and activities for residents, including restaurant style dining, movie theater, and a lively social scene including a bakers’ club, trivia challenges, yoga, educational speakers, walking trail access to ample green space, on-demand transportation, excursions, gardening, and more.
BWE’s Seniors Housing and Care team also recently closed on acquisition financing for the recently renovated, 92% occupied Blossom Vale Senior Living in Orangevale, CA, part of the Sacramento metropolitan area. The 5-year, competitive fixed-rate bank loan with flexible prepayment, no deposit requirements, and an earn-out structure allowed the borrower to enjoy the upside of the stabilizing operations and rent growth of the renovated units.