M id A tlantic Real Estate Journal — Financial — December 2024 — 3A
www.marej.com
F inancial Ryan Stoll, and Taylor Mokris secure loan from a national commercial bank BWE secures $57.8M to refinance senior living community in Douglassville, PA for ReNew REIT
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occupied Blossom Vale Senior Living in Orangevale, CA, part of the Sacramento metro -
OUGLASSVILLE, PA — BWE has se- cured $57.8 million
politan area. The 5-year, competitive fixed-rate bank loan with flexible prepayment, no deposit re - quirements, and an earn- out structure
to refinance Ke y s t o n e Villa at Dou - glassville, a 247-unit, class A inde - pendent liv - ing, assisted living, and memory care community.
Ryan Stoll
Taylor Mokris
allowed the borrower to enjoy the upside of the stabilizing operations and rent growth of the renovated units. MAREJ
Ryan Stoll , national direc - tor of Seniors Housing and Care at BWE, and Taylor Mokris , senior vice presi - dent of Seniors Housing and Care, secured the loan from a national commercial bank, which features a non-recourse structure prepayment flex - ibility, a competitive rate, and full-term interest-only pay - ments. The loan was secured on behalf of a joint venture between private investment trust ReNew REIT and opera - tor Heritage Senior Living. “To deliver the best results for the borrower, our team sorted through a complex and competitive process to deter - mine which lender offered loan terms best tailored to the joint venture’s needs. Ultimately, the sponsor was able to forge a new relationship with a na - tional commercial bank who offered just that,” said Stoll. “We pride ourselves in being execution agnostic when it comes to finding the right capi - tal solution for a project, mak - ing it easy for our partners to trust they will always end up with the best lender and loan for their unique needs.” Keystone Villa at Doug - lassville, located at 1152 Ben Franklin Highway, is com - prised of a 123-unit indepen - dent living building, and a 125-unit assisted living and memory care building con - structed in 2011. Located in a vibrant suburb of Philadelphia, Keystone Vil - la features a host of amenities and activities for residents, including restaurant style dining, movie theater, and a lively social scene including a bakers’ club, trivia challenges, yoga, educational speakers, walking trail access to ample green space, on-demand trans - portation, excursions, garden - ing, and more. BWE’s Seniors Housing and Care team also recently closed on acquisition financing for the recently renovated, 92%
Keystone Villa at Douglassville
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