BWE Secures $58M to Refinance PA Senior Community

BWE has secured $57.8 million to refinance Keystone Villa at Douglassville, a 247-unit, Class A independent living, assisted living, and memory care community in Douglassville, Pennsylvania.

Ryan Stoll, national director of Seniors Housing and Care at BWE, and Taylor Mokris, senior vice president of Seniors Housing and Care, secured the loan from a national Commercial Bank, which features a non-recourse structure prepayment flexibility, a competitive rate, and full-term interest-only payments. The loan was secured on behalf of a joint venture between private investment trust ReNew REIT and operator Heritage Senior Living.

Keystone Villa at Douglassville, located at 1152 Ben Franklin Highway, is comprised of a 123-unit independent living building constructed in 2015 and a 125-unit assisted living and memory care building constructed in 2011. The property was 92% occupied at the time of closing and has had strong operating performance.