DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured financing for an eight-property, 565-unit seniors housing portfolio located in New England.
HFF worked on behalf of the borrower, Northbridge Strategic Senior Housing Fund II, L.P., to originate the mortgage loans to be sold to Freddie Mac. HFF, a Freddie Mac Optigo℠ lender for Seniors Housing Loans, will service the loans.
The properties in the portfolio are Avita of Brunswick in Brunswick, Maine; Avita of Stroudwater in Westbrook, Maine; Avita of Wells in Wells, Maine; Carriage House at Lee’s Farm in Wayland, Massachusetts; Laurelwood at the Pinehills in Plymouth, Massachusetts; Ledgewood Bay at Milford in Milford, New Hampshire; Stroudwater Lodge in Westbrook, Maine; and Sunnybrook in Brunswick, Maine. The properties have an average completion date of 2014 and comprise a mixture of 49 independent living, 256 assisted living and 260 memory care units that were nearly 90 percent occupied at closing.
About Northbridge Companies: Northbridge Companies is a multifaceted senior living developer, owner, operator and advisor. Based in Burlington, Massachusetts, Northbridge Senior Housing develops, owns and manages high-quality senior living communities throughout New England. Northbridge Advisory Services advises lenders, investors and providers on operational asset management, sales and marketing, and repositioning assets on a national level. Northbridge Communities develops institutional quality assets for family offices, private equity firms and REITS. NBR Asset Management oversees all investor relations. Northbridge’s thorough market knowledge, combined with solid financial strength, has enabled Northbridge Companies to grow to 17 senior living communities in Massachusetts, New Hampshire and Maine, employing 1,400 associates and serving over 1,300 residents. For more information, go to northbridgecos.com
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.