LEXINGTON, SC—Senior housing is still turninginvestor heads even in secondary and tertiary markets. The latestexample is The Village at Southlake, a 122-unit senior independentliving rental community for workforce retirees in Lexington,SC.

Drever Capital Management secured a $12.5million bridge financing through CBRE for thesenior living asset. The floating rate mortgage is a five-year,24-month interest-only term loan placed through a regional US bank.Drever plans to use the proceeds refinance existing debt and returnequity to investors.

With this deal, Drever is translating itsmultifamily experience into moderately pricedsenior communities with no buy-in fees aimed at the workforceretiree who is looking for health, wellness, and new lifestyleexperiences. Frank Marro, president and CEO ofDrever, tells GlobeSt.com the firm's legacy family investors havean “active appetite” for acquiring and developing independentliving communities for workforce seniors as they retire.