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EL PASO, Texas — CBRE has arranged a $30 million refinancing for a portfolio of four SunRidge independent living, assisted living and memory care communities in El Paso.
The properties are SunRidge at Cambria, SunRidge at Cielo Vista, SunRidge at Desert Springs and SunRidge at Palisades, all located within 25 miles of each other. The assets were built between 1986 and 1999. The portfolio totals 300 units.
The borrower is Cambridge Investment and Finance Co. 12 Oaks Senior Living, a local operator, manages the portfolio.
A national bank provided the capital for the four-year, floating-rate loan. Aron Will, vice chairman of CBRE National Senior Housing, arranged the refinancing.