News - 2008
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080045
$18.5 Million Acquisition Financing Provided for Atria Senior Living Group
Atria Baypoint Village
Hudson, Florida
Columbus, Ohio, January 22, 2008 — Red Mortgage Capital, Inc., one of the nation’s top Fannie Mae DUS® seniors housing lenders and the mortgage banking arm of comprehensive capital provider, RED CAPITAL GROUP, recently provided $18,500,000 in Fannie Mae Extended Early-Rate lock acquisition financing for a seniors facility in Hudson, Florida.
Atria Baypoint Village was built in 1986 and consists of 155 independent and 77 assisted living units. It is comprised of a four-story and a two-story building connected to a two-story common area. A subsidiary of Atria Senior Living Group was operating the property under an operating lease which contained a purchase option exercisable in January 2008. In April of 2007, Atria locked the interest rate on the majority of the Fannie Mae acquisition loan which closed January 9, 2008.
Atria Senior Living Group is one of the nation’s largest providers of senior-living services. With more than 130 retirement and assisted living communities in 27 states, Atria is committed to providing quality care for seniors in an environment that promotes dignity and independence.
