Marathon Provides $235m Refinancing For Portfolio In Florida, Texas
NEW YORK CITY — Marathon Asset Management has provid3ed a $235 million senior mortgage loan for the refinancing of a seniors housing portfolio totaling 11 properties. An affiliate of Lone Star Real Estate Fund VI is the borrower.
Of the 11 communities, 10 are located in Florida, with one situated in the Dallas-Fort Worth metro in Texas. Together, the properties comprise 1,564 units.
Lone Star Funds acquired the communities, which are operated by Discovery Senior Living, in 2021. The company has invested in strategic capital upgrades to the properties since acquisition.
Joseph Griffin of Marathon led the team that originated the loan. Aron Will, Matthew Kuronen and Michael Cregan of CBRE arranged the financing on behalf of the borrower.
“We were pleased to partner with Marathon and CBRE on the successful refinancing of this seniors housing portfolio,” says Jerome Foulon, global head of commercial real estate at Lone Star. “Lone Star believes these assets will continue to benefit from capital investments, strong management and overall growing market demographics.”
The post Marathon Provides $235M Refinancing for Portfolio in Florida, Texas appeared first on Seniors Housing Business.
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