Redstone Group Management Secures $25.9 Million Loan From Fannie Mae For 152-Unit Senior Housing Community

The asset involved in this transaction is a senior housing community located at 3555 Copper River Avenue Southwest in Wyoming, MI. This community consists of 152 units and has been financed through a loan provided by Fannie Mae, amounting to $25,900,000. The loan features a term of 10 years with fixed-rate payments, including an initial three years of interest-only payments.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $25,900,000
• Units: 152
• Address: 3555 Copper River Avenue Southwest
• Market: Wyoming, MI
• Lender: Fannie Mae
• Landlord: Redstone Group Management Inc.
• Broker Representatives: Mary Stuart Hurst & Russell Dey - Walker & Dunlop

This financing was facilitated by Walker & Dunlop, which secured the permanent funding for the Rivertown Ridge community on behalf of borrower Redstone Group Management. The arrangement was made with Inner Circle Holdings, ensuring support for the operational needs of the senior housing facility.