Bwe Secures $57.8m Loan To Refinance Senior Living Community In Douglassville, Pennsylvania

DOUGLASSVILLE, Pa. — BWE has arranged a $57.8 million loan to refinance Keystone Villa at Douglassville, a 247-unit, Class A independent living, assisted living and memory care community in Douglassville, located about 15 miles southeast of Reading, Pennsylvania.

Ryan Stoll, national director of seniors housing and care at BWE, and Taylor Mokris, senior vice president of seniors housing and care, secured the loan from a national commercial bank. The borrower was a joint venture between privately held real estate investment trust ReNew REIT and operator Heritage Senior Living. The nonrecourse loan features prepayment flexibility, a competitive rate, and full-term, interest-only payments. 

Keystone Villa at Douglassville is comprised of a 123-unit independent living building constructed in 2015 and a 125-unit assisted living and memory care facility built in 2011. The property, which was 92 percent occupied at the time of closing, has exhibited a strong operating performance.

The property features restaurant-style dining; a movie theater; a lively social scene that includes a baker’s club, trivia challenges, yoga and educational speakers; walking-trail access to ample green space; on-demand transportation; excursions; gardening and more.

Headquartered in Cleveland, Ohio, BWE provides a full suite of debt and capital markets services for clients covering the entire spectrum of seniors housing and care commercial real estate.

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