CONROE, Texas — CBRE has arranged a $34.5 million refinancing for Woodhaven Village, a 157-unit independent living, assisted living and memory care community in the Houston suburb of Conroe.
The borrowers are Padua Realty Company and Paradigm Senior Living, the joint venture developers of the property. The Freddie Mac loan features a 10-year term, floating rate and five years of interest-only payments. Aron Will of CBRE National Senior Housing arranged the transaction.
Opened in January 2017, Woodhaven Village is located one mile from Conroe’s largest medical center. It was more than 90 percent occupied at the time of the refinancing.