June 9, 2016

Maverick Commercial Mortgage has closed a first-mortgage loan to fund the acquisition of Heatherwood Retirement Community, a 110-unit independent senior residence. The 110-unit is at 5277 W. Kootenai St. in Boise, ID. The seller was listed as Heatherwood Ventures LLC, which is tied to Frontier Management.

The $5.5 million loan will help the new owner with upgrades to the interior and exterior of the property. The two-year bridge loan is interest only and can be prepaid with one month’s notice.

Property management is being handled by Milestone Retirement Communities LLC, based in Vancouver, WA.

Connect with Maverick Commercial Mortgage

Connect with Milestone Retirement Communities

Tags: financing, Loan, senior residence