Morning Pointe Senior Living Refinances Senior Housing Portfolio With $106.2M Loan From Greystone
1025 Crestway Drive, Athens, Tennessee 37303, United States
$106,200,000
Units
567
Asset Type
—
Closing
Nov 18, 2022
About this deal
AI
The property involved in this closed loan transaction is a senior housing asset located at 1025 Crestway Drive, 9650 Leyland Drive, 711 Kings Lane, 7620 Shallowford Road, 324 Mount Bethel Road, 9647 Westland Drive, 5501 Old Hixson Pike, and 68 C. Michael Davenport Blvd. The property consists of a total of 567 units and is owned by Morning Pointe Senior Living.
Summary of transaction details:
- Property Type: Senior Housing
- Loan Amount: $106,200,000
- Lender: Greystone - Neal Raburn
- Landlord: Morning Pointe Senior Living
- Market: Athen, Collegedale, Tullahoma, Chattanooga, Greeneville, Knoxville, Hixson TN & Frankfort, Ky
The loan was provided by Greystone, with Neal Raburn representing the lender. Morning Pointe Senior Living acted as the landlord in this transaction. The loan amount for the refinance was $106,200,000.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93