CoastalStates Bank Provides $6.5M Acquisition Financing for Community in Connecticut

by Jeff Shaw

DANBURY, Conn. — CoastalStates Bank has provided a $6.5 million senior loan for a 48-unit assisted living community in Danbury, along the New York border approximately 60 miles northeast of Manhattan.

The borrower is Woodbine Senior Living. The loan will be utilized for the acquisition and stabilization of the 42,198-square-foot facility.

Woodbine Senior Living partnered with Locust Point Capital Inc. and affiliates, which provided a $3.8 million preferred equity investment.  

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