Lone Star Secures $235M Mortgage Loan to Refi Seniors Portfolio

Lone Star Secures $235M Mortgage Loan to Refi Seniors Portfolio
News| February 19, 2026| Paul Bubny

Marathon Asset Management’s Commercial Real Estate platform originated a $235-million senior mortgage loan to an affiliate of Lone Star Real Estate Fund VI, L.P. for the refinancing of an 11-property, mixed-acuity seniors housing portfolio.

The portfolio consists of purpose-built communities totaling 1,564 total units. Ten of the eleven properties are located in primary Florida markets, while one asset is located within the Dallas-Fort Worth Metroplex.

Lone Star acquired the properties in a $335-million acquisition from Healthpeak Properties in 2021 and has invested in multiple strategic capital upgrades to the communities since then. The portfolio is operated by Discovery Senior Living.

Marathon’s Commercial Real Estate team, led by partner Joseph Griffin, worked closely with Lone Star to originate the loan. CBRE’s National Senior Housing team advised on the transaction, with vice chairman Aron Will, SVP Matthew Kuronen and VP Michael Cregan, arranging the financing.

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