FRESNO, Calif. — CBRE has provided $32 million in Freddie Mac financing for the acquisition of The Windham Senior Living, a 200-unit independent living and assisted living community in Fresno’s affluent Woodward Park neighborhood.
The borrower is The Reliant Group, which plans to make capital improvements and bring in Cadence Senior Living to operate the community under a third-party management agreement.
The property is situated on a 10.2-acre parcel and consists of a main three-story building and six one-story buildings featuring 30 cottages each.
The CBRE team involved in the financing includes Aron Will and Austin Sacco of CBRE National Senior Housing, as well as Andrew Behrens and Jesse Weber of CBRE Multifamily Institutional Group. The 10-year, fixed-rate, Green Advantage loan features 72 months of interest-only payments. This transaction represents one of the first Freddie Mac Green Advantage loans closed in the seniors housing space.