Senior Housing Facility Obtains Permanent Financing

VANCOUVER, WA-Capri Capital says it has arranged financing totaling $4.56 million for a 58-unit independent and assisted living facility in Vancouver. The property was funded with a ten-year fixed rate Fannie Mae DUS Senior Housing loan with 25-year amortization.

Highgate Retirement Villas was recently completed and leased up quickly. Situated in a residential and commercial mixed area in the City of Vancouver, Highgate consists of (14) studio, (24) one bedroom and (12) two-bedroom and (8) villas homes. It offers the full package of assisted living services, a swimming pool, a spa and a large clubhouse.

Andrew Mackay of Capri was the originator of the loan. Capri Capital L.P. is a Chicago-based real estate investment advisory, management and mortgage capital firm investing in real estate equity and debt-related products on behalf of pension funds and institutional investors. It has approximately $6 billion under management.

The firm is a Fannie Mae Delegated Underwriting Servicing (DUS) lender, a HUD originator and servicer, and a Freddie Mac program-plus seller-servicer.