Isle at Watermere Secures Loan to Refinance its Debt

SOUTHLAKE, TX-A senior housing community in Southlake has received a $16-million loan to refinance its maturing mortgage debt.

By GlobeSt News Hub | July 12, 2011 at 01:01 AM

SOUTHLAKE, TX-A senior housing community in Southlake has received a $16-million loan to refinance its maturing mortgage debt. South Bay Partners owns Isle at Watermere, a senior housing community consisting of 92 units.

The group secured the fixed-rate loan, which has a 10-year term, through Oak Grove Capital. The loan was made possible through the medium of Fannie Mae DUS program. South Bay Partners was managed to receive competitive terms on the $16-million loan. For the full story, go to Dallas Business Journal .

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