BWE, a national commercial and multifamily mortgage banking company, announced that it has secured $46,000,000 in permanent financing for the independent living, assisted living, and memory care community Westmont of Cypress located in Cypress, California, part of the Los Angeles Metropolitan Statistical Area.
Ryan Stoll, National Director of Seniors Housing and Care at BWE, and Taylor Mokris, Senior Vice President of Seniors Housing and Care, originated the loan on behalf the borrower from a life insurance company, helping the sponsor establish a new lending relationship.
“In the current capital climate, it is critical to listen thoughtfully to our clients’ asset and portfolio level investment goals, so we can arrange the optimal financing strategy that supports their near-, medium- and long-term objectives,” said Stoll. “Utilizing BWE’s suite of capital solutions and extensive lender relationships, we worked to identify the correct lender and structure a non-recourse deal that included a competitive fixed rate with flexible prepayment, allowing the client to most effectively execute their long-term business plan.”
Westmont of Cypress boasts best-in-market amenities including various chef-inspired dining options, swimming pool, fitness center, spacious living spaces, outdoor courtyard, library, salon/barber shop, movie theater, on-site therapy services, scheduled transportation, resident/guest parking, concierge services, and pet-friendly accommodations.