Newmark Group announced on November 4, 2024, that it arranged the $140 million recapitalization for Corso Atlanta, a 203-unit luxury seniors housing asset in Atlanta, Georgia. Newmark's Healthcare & Alternative Real Estate Assets group secured a 10-year Freddie Mac senior loan with five years of interest-only payments.
The transaction also included a preferred equity investment from Kayne Anderson Real Estate Debt, marking the first-ever Freddie Mac senior preferred equity hard pay structure for a seniors housing asset. Newmark Senior Managing Director Sarah Anderson facilitated the transaction on behalf of Galerie Living.
Corso Atlanta is recognized as a premier senior living facility, ranking among the top 10 nationally in 2024. This innovative loan structure highlights the extraordinary quality and strong performance of the asset, setting a precedent in the seniors housing finance sector and reinforcing Newmark's dedication to excellence in senior care.
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