BWE, a national commercial and multifamily mortgage banking company, is pleased to announce the successful arrangement of a $76 million refinance on behalf of a joint venture between Harbert Management Company (“HMC”) and Senior Resource Group (“SRG”) for The Carlisle Naples, a premier Class-A senior living community in Naples, Florida. Ryan Stoll, National Director of Seniors Housing and Care at BWE, and Taylor Mokris, Senior Vice President of Seniors Housing and Care, facilitated the financing.
The Carlisle Naples features 350 luxury units, including 257 Independent Living units and 93 Assisted Living units, operated by SRG, a nationally recognized leader in managing large-scale, luxury, full-continuum senior housing communities. The sponsor recently completed an extensive capital improvement plan during the pandemic, driving both occupancy and rates post-renovation. This flagship property spans over 18 acres in a prime Naples location with robust seniors housing demand fundamentals, including annual 75+ household growth of 3%, over 90% Independent Living occupancy, and rate growth exceeding 10%.
“The Carlisle Naples is a fixture in the Naples community, offering incredible amenities and an unmatched location that sets the standard for the market,” said Mokris. “We are honored to have supported HMC and SRG in securing financing that aligns with their goals for this flagship community.”
BWE’s National Seniors Housing & Care team worked diligently on behalf of the borrower through a competitive process, securing multiple quotes from banks and debt funds. The sponsor ultimately selected a non-recourse bridge loan with a 5-year term, a competitive floating rate, and full-term interest-only payments. This structure offers the flexibility and favorable terms needed to position The Carlisle Naples for continued success.