Lone Star Funds received a $235 million mortgage on an 11-property senior housing portfolio. One property was in Texas. The South Florida Business Journal reports that Marathon Asset Management’s Commercial Real Estate platform originated the note. The 11 properties make up 1,564 portfolio units in markets such as Tampa, Boca Raton, Sarasota and Naples. The 11 properties include a mix of independent, assisted and memory care communities.
Since the acquisition, Lone Star has invested in the portfolio with capital upgrades. With this refinancing package, the owner believes the properties will continue to benefit from capital investments and growing senior housing demographics.
Discovery Senior Living currently handles operations across the properties.
Joseph Griffen, partner at Marathon, worked with Lone Star to originate the loan. CBRE’s Aron Will, Matthew Kuronen and Michael Cregan arranged the financing.
The post Lone Star Lands $235M Refi on 10 Florida Sr. Housing Communities appeared first on Connect CRE.
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