Kentucky Senior Community Lands $36M Refi
- Apr 03, 2020
Atlas Senior Living has obtained a $36.3 million Fannie Mae first mortgage loan to refinance Legacy Reserve at Fritz Farm, a 167-unit luxury senior community in Lexington, Ky. Bellwether Enterprise arranged the 12-year, fixed-rate financing on behalf of the borrower.
Located at 2700 Man O’War Blvd., the 2017-built Legacy Reserve has 114 independent living, 38 assisted living and 15 memory care units in studios, one- and two-bedroom apartments. The 163,000-square-foot community features various amenities such as a heated saltwater swimming pool, sports bar, library and exercise room. Cleaning and transportation services are also offered.
The property is 5 miles southwest of city center, across from The Summit at Fritz Farm mixed-use property that includes shops, restaurants, luxury apartments and class A office space.
Bellwether Enterprise Executive Vice President John Powell secured the financing on behalf of Atlas. In January, a Bellwether team arranged a $31 million construction loan for a mixed-use redevelopment in Greenville, S.C.