Cathy Bronkema, managing director in the Grand Rapids, Michigan, office of Cohen Financial, has secured $4.116 million to refinance Arbor Grove Assisted Living, a seniors housing property in Alma, Michigan.
Bronkema secured the fixed-rate, 35-year term loan with 35-year amortization schedule with HUD, working alongside Joshua Hausfeld, managing director of SunTrust CRE Seniors Housing & Healthcare Finance. The loan closed on June 28.
Arbor Grove is a 41-unit assisted living property that provides senior lifestyle services. The borrower is a Grand Rapids-based senior living properties owner/operator.
Cohen Financial is a division of SunTrust Bank. The SunTrust CRE seniors housing and healthcare financing platform delivers customized debt products.