Greystone has provided a $24.8-million Freddie Mac Optigo loan to refinance a 70-unit senior housing property in Mashpee, MA. The fixed-rate, non-recourse financing carries a 10-year term and 30-year amortization.
Greystone’s Shailini Nehra handled the transaction on behalf of Northbridge Companies.
Ten percent of the property’s units are designated affordable housing by the Cape Cod Housing Authority.
Built in 2018, Laurentide at Mashpee Commons in Barnstable County includes studio, one-, and two-bedroom units and offers assisted living and memory care services. The community features a full physical and occupational therapy gym, movie theatre, bistro, café, a large outdoor patio, and landscaped walking paths. Residents also enjoy salon and barber shop services, chef-prepared meals, life enrichment and wellness programming.
Northbridge Companies develops, owns and senior living communities throughout New England. It has a portfolio of 19 communities in CE, MA, ME and NH and serves more than 1,300 residents.
Inside The Story
About Lisa McDuffie
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.