The Cottages of Carmel
TFG sourced and negotiated the recapitalization of this 57-unit assisted living and memory community located in Carmel, California. Principals of TFG and Watermark formed a joint venture with Herbert J. Sims and the existing owner Don Houpt for the recapitalization of this property that closed in July 2014. Herbert J. Sims and TFG/Watermark provided the equity investment required for the transaction while Don Houpt contributed the existing property. The community opened in 2011 and is presently over 86% occupied.