Grand Rapids, MI (January 2, 2018) – 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.
“Partnering with the Pillar/SunTrust healthcare financing platform we are delivering outstanding financing solutions and strategies for our national, regional and local seniors housing and healthcare clients. Our healthcare financing platform provides customized debt products tailored to meet borrowers’ financing needs from bridge financing to long-term, fully amortizing loans,” said Bronkema.
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