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BWE Secures $47 Million Refinance Loan For 219-Unit Senior Housing In Henrico VA

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FINANCED
$47,000,000

Virginia

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Senior Housing
Financed 07/12/2024
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FINANCED

BWE Secures $47 Million Refinance Loan For 219-Unit Senior Housing In Henrico VA

9801 Harmony Woods Way & 2422 University Park Boulevard

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Senior Housing
Financed 07/12/2024
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Summary

VIRGINIA
Asset Type:Senior Housing
Transaction Type:Loan

The transaction involves a refinance loan secured for Discovery Village at the West End, which is located at 9801 Harmony Woods Way & 2422 University Boulevard in Henrico, VA. This senior housing asset consists of 219 units, providing independent living, assisted living, and memory care services. At the time of financing, the facility reported a 93% occupancy rate and includes various amenities such as a wellness center and a movie theater.

Summary of transaction details:

  • Property Type: Senior Housing
  • Transaction Amount: $47,000,000
  • Loan Type: Refinance
  • Broker Representatives: Ryan Stoll & Taylor Mokris - Bellwether Enterprise (BWE)
  • Market: Henrico, VA
  • Units: 219

The refinance deal was facilitated by the brokerage firm Bellwether Enterprise, known for its expertise in securing financing for commercial properties. The representatives involved in this transaction were Ryan Stoll and Taylor Mokris, who played key roles in orchestrating the refinance of this senior living community.

Players

Ryan Stoll
9 deals$709.1M volume(913) 940-0075
BROKER

Taylor Mokris
Bellwether Enterprise (BWE)
9 deals$709.1M volume(704) 659-5636
BROKER

Details

FINANCED
IMAGE: 07/12/2024 ADDRESS: 9801 Harmony Woods Way & 2422 University Boulevard MARKET: Henrico, VA ASSET TYPE: Senior Housing ~ UNITS: 219 BROKERS: Ryan Stoll & Taylor Mokris - Bellwether Enterprise (BWE) LOAN AMOUNT: $47,000,000 LOAN TYPE: Refinance NOTE: BWE has secured a $47 million loan to refinance Discovery Village at the West End, a 219-unit senior living community in Richmond that offers independent living, assisted living, and memory care. The facility, featuring various amenities like a wellness center and movie theater, was 93% occupied at the time of financing.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$47,000,000.00

Monthly NOI$313,333.33
Monthly Debt Service$297,071.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00