Ponté Palmero in Cameron Park Receives $35.7m Loan
The 239-unit Ponté Palmero continuing care retirement community in Cameron Park has received $35.7 million in first mortgage financing. The 26-acre community contains 100 assisted-living, 104 independent-living and 35 memory-care units. The loan was originated by KBS Strategic Opportunity REIT. It features a floating interest rate with an initial rate of no less than 11 percent. The floating rate will increase annually to no less than 18 percent during the third year of its term. It matures in October 2015.
Ponté Palmero Retirement Community is the premier Retirement Living Community in Cameron Park, California. Ponté Palmero is a full-service, resort style solar retirement community that allows residents a retirement free from maintenance, routine chores, and meal preparation. Including a dedicated memory care for those with Alzheimer’s or dementia, assisted living, and shopping.
Features & Amenities:
Clubhouse with outdoor swimming pool & warm water spa
Gourmet meals with open dining hours
Walking paths through the 24-acre grounds
Utilities and basic cable TV
Private event space
Interior, exterior and grounds maintenance
No buy-in, no huge entry fee, no home purchase required.