Saudi Economic And Development Co. And Madison Marquette Acquire Seniors Housing In The Woodlands, Houston For $54.4M

The Woodlands, Houston has seen a recent closed property transaction involving a seniors housing asset. The property, located at 2323 Lake Robbins Drive, sits on 2.7 acres and consists of 207 units. The deal was facilitated by CBRE brokers Aron Will, Austin Sacco, and Tim Root. The landlords in this transaction were Saudi Economic and Development Co. and Madison Marquette.

Summary of transaction details:

• Property Type: Seniors Housing
• Transaction Amount: $54,400,000
• Loan Terms: three-year, nonrecourse loan with a floating interest rate

The loan for this property amounted to $54,400,000 and carried a floating interest rate. The terms of the loan were set for three years and had nonrecourse provisions. Aron Will, Austin Sacco, and Tim Root, representing CBRE, played a pivotal role in securing this loan for the seniors housing asset in The Woodlands, Houston.