Financing Arranged for 72-Unit Assisted Living Facility

NORWOOD, MA-Financing was secured for Sunrise of Norwood, a 72-unit assisted living facility managed by Sunrise Senior Living. The $21.2 million loan is financing this facility as well as another of Sunrise Senior Living’s facility, Sunrise of Columbia, a 79-unit complex in Columbia, MD.

The Dallas office of Holliday Fenoglio Fowler, L.P. arranged the deal. Senior director Jack Killough and analyst Katherine Sykes worked on behalf of Aureus Group to secure the seven-year, adjustable-rate loans through Guaranty Bank. Aureus Group invests in senior living facilities aimed at serving the middle and upper economic segments of the seniors market. It currently owns 15 facilities, totaling 1,844 units.

“We were able locate a lender who responded to the needs of our client. The loan facility allows Aureus to take advantage of today’s short-term interest rates, while also providing our client with the option to fix the rate in the event of a rising interest rate environment,” notes Killough.

Sunrise of Norwood is located at 86 Saunders Rd., approximately 23 miles southwest of Boston.