Marathon Asset Management’s Commercial Real Estate platform originated a $235 million senior mortgage loan to an affiliate of Lone Star Real Estate Fund VI, L.P. to fund the refinancing of an 11-property, mixed-acuity senior housing portfolio.
The portfolio consists of 11 purpose-built senior housing communities encompassing 1,564 total units. Ten of the 11 properties are located throughout primary markets in Florida, while one asset is located within the Dallas-Fort Worth Metroplex.
Lone Star acquired the properties in 2021 and has invested in multiple strategic capital upgrades to the communities since acquisition. The portfolio is operated by Discovery Senior Living, an experienced manager with more than 46,000 managed senior housing units across the United States.
Marathon’s Commercial Real Estate Team, led by partner Joseph Griffin, worked closely with Lone Star to originate the loan. CBRE’s national senior housing team advised on the transaction, wit
