NACOGDOCHES, Texas — Capital One has provided a $9.3 million Fannie Mae fixed-rate loan to refinance The Arbor Assisted Living and Memory Care, a 59-unit seniors housing facility in Nacogdoches.
Nacogdoches is located in East Texas near the Louisiana border. It is southeast of Dallas and Northeast of Houston.
The borrower, Prevarian Senior Living, will use the proceeds to retire existing debt and recapture equity invested to acquire and expand the property. Prevarian bought the property in 2015 and expanded it from its original 36 units, growing the common areas and adding a memory care wing.
Founded in 2010, Prevarian Senior Living owns seven assisted living and memory care communities in Texas, Florida, Oklahoma, and Arizona.