Newmark arranges $140M recapitalization for Galerie Living’s 203-unit, Corso Atlanta, a senior housing community

11/5/2024

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REBusinessOnline

• Subcategory: Capital Markets: Debt, Capital Markets: Equity, MF: Market Rate, MF: Senior

• Tag: Closing

• Additional Filters-Subcategory: Capital Markets: Agency Loan, Capital Markets: Preferred Equity, MF: Garden

• Company: Newmark Group (Nasdaq: NMRK), Kayne Anderson Capital Advisors

Newmark has arranged the $140 million recapitalization for Corso Atlanta, a 203-unit upscale seniors housing community located at 3200 Howell Mill Road in the city’s West Paces Ferry area.

Newmark’s Healthcare & Alternative Real Estate Assets group secured the 10-year Freddie Mac senior loan, which features five years of interest-only payments, and secured a preferred equity investment from Kayne Anderson Real Estate Debt. Sarah Anderson, Chad Lavender, Ryan Maconachy, Mills Poynor and Ben McElroy of Newmark facilitated the recapitalization on behalf of the borrower, Galerie Living.