Finance V Michigan

Cohen Financial, Pillar close loans for pair of seniors housing facilities in Michigan

Cohen Financial, a division of SunTrust Bank and a national real estate capital services firm, announced today that Cathy Bronkema, Managing Director in the Grand Rapids office, has secured $11.585 million for two senior housing properties located in Michigan. Ms. Bronkema secured the fixed-rate, 35-year term loans with 35-year amortization schedules with HUD, working alongside Joshua Hausfeld, Managing Director of Pillar Seniors Housing & Healthcare Finance, a division of SunTrust Bank.

Ms. Bronkema and Mr. Hausfeld secured $6.498 million for Oliver Woods Retirement Village, an 80-unit property in Owosso, Michigan. They also secured $5.088 million for Briarwood Assisted Living, a 39-unit property in Allegan, Michigan. The borrower is a Grand Rapids-based senior living properties owner/operator.