Bellwether Enterprise Real Estate Capital LLC (BWE), a national commercial and multifamily mortgage banking company, announced today that it has served as the exclusive financial advisor to an affiliate of Harrison Street Real Estate Capital (Harrison Street) to arrange acquisition financing for a portfolio of three newly built, Class A+ assisted living and memory care facilities in California.
Ryan Stoll, BWE’s National Director of Seniors Housing and Care, and Taylor Mokris, Senior Vice President for Seniors Housing and Care, originated the loan through regional banks on behalf of the borrower.
“Executing a deal like this with certainty, even in difficult times, is a hallmark of the Harrison Street team, and we are proud to assist them in maintaining that reputation,” said Stoll. “Congratulations to Harrison Street on the addition of these new assets to their growing partnership with Oakmont.”
The three communities, Oakmont of Agoura Hills (29353 Canwood Street, Agoura Hills, CA), Oakmont of Lodi (2905 Reynolds Ranch Parkway, Lodi, CA) and Oakmont of Silver Creek (3544 San Felipe Road, San Jose, CA), offer assisted living and memory care in a luxury setting. Amenities for residents include a movie theater, restaurant and bar, scenic gardens and a pet park. BWE procured several competitive quotes for Harrison Street and successfully negotiated a five-year, interest-only loan from two regional banks to finance the acquisition of the senior living facilities. The communities will continue to be managed by Oakmont Management Group.
With over $10 billion of transactional experience in seniors housing and skilled nursing finance to public corporations, private equity sponsors and private owner/operators, BWE National Senior Housing and Care combines BWE’s integrated origination, underwriting, closing and servicing with a dedicated focus on seniors housing.
BWE provides flexible financing solutions for clients covering the entire spectrum of commercial and multifamily real estate. For more information on BWE’s services, visit us at: https://www.bwe.com/.