The asset involved in this transaction is an Assisted Living Facility located at 2250 North Courtenay Parkway, Merritt Island, with a total square footage of 64,000. The permanent refinancing amounts to $23,000,000, which is 120% of the development costs, utilizing a blend of C-Pace and Senior Debt, and featuring a partial interest-only period at a blended rate of 7.50%.

Summary of transation details:

• Property Type: Assisted Living Facility
• Transaction Amount: $23,000,000
• Loan Type: Refinance
• Loan Terms: 120% of development Costs, Partial IO, Blended Rate of 7.50% - Combination of C-Pace + Senior Debt
• Broker: Adrian Edery - Paradigm Commercial Real Estate

Adrian Edery, representing Paradigm Commercial Real Estate, successfully placed the permanent refinancing after originally originating the construction loan for the facility. The transaction emphasizes a strategic financial restructuring to support the ongoing development of the property.