Ponte Palmero

3081 Ponte Morino Dr, Cameron Park, CA 95682

Property Overview

This investment is an origination of a $35,750,000 first mortgage loan collateralized by Ponte Palmero, a 239-unit continuing care retirement community built in 2008 and located in the Sacramento suburb of Cameron Park, California. Ponte Palmero is a high-quality modern facility with superior amenities and competitive rents. The property consists of three types of retirement housing options: 104 independent living units resembling single-family residences, 100 assisted living units and 35 memory care units. The property features a spacious 8,000 square-foot clubhouse with a full service restaurant, swimming pool, fitness center and other amenities.

Investment at a Glance

Location: Cameron Park, CA

Property Type: Continuing Care Retirement Community

Investment Type: First Mortgage

Acquisition Date: September 13, 2012

Total Loan Amount: $35,750,000

Initial Loan-to-Value: 67%

Loan Term: 36 months

Loan Rate: Variable floating rate

No. of Units: 239

Square Footage: 243,332 SF

Year Built: 2008

Leased Percentage (at the time of Acquisition): 68%

$35,750,000 Total Purchase Price
243,332 square feet Total Rentable Area
Class A Building Class