San Diego-headquartered The Grant Cos. has obtained $24.9 million in refinancing for The Pointe at Lantern Crest, the company’s 102-unit senior housing community in Santee.
According to a statement from CBRE Group Inc., which arranged the financing, the property owner obtained a 10-year loan through Freddie Mac to refinance an existing construction loan. The refinancing was secured by CBRE’s Bill Chiles, Scott Peterson and Brian Cruz.
Located at 800 Lantern Crest Way, the resort-style Pointe at Lantern Crest was first completed in 2012, offering assisted living and memory care units. A second phase, completed in 2015, offers independent and assisted living units.
The property has onsite amenities including a fitness center, movie theater, game room, salon spa, library and two restaurants.
The Grant Cos. was formed in 1989 and has developed more than $500 million in projects, including medical office buildings, apartments, retail centers, industrial and mixed-use developments.