• National Lending Group Divests in Wisconsin

    by | Apr 25, 2024 3:31 pm | Acquisitions

    Justin Knapp, Nick Stahler and Ray Giannini of Marcus & Millichap recently closed the receivership sale of an 86-bed skilled nursing facility in Wisconsin. The Knapp-Stahler Group represented the seller, a national lending group that also provided financing for the deal.  The borrower/buyer was a local operator with ties to an East... Read More »

  • CFG Secures Bridge-to-HUD Loan for Ohio Skilled Nursing Facility

    by | Apr 25, 2024 3:30 pm | Financings

    Capital Funding Group secured financing for a skilled nursing facility in Ohio on behalf of a nationally recognized borrower. The bridge-to-HUD loan totals $13.5 million and supports the refinancing of this 120-bed SNF. Tim Eberhardt and Ava Julio of CFG originated the transaction.  This financing follows CFG’s closing of two HUD loans on... Read More »

  • CBRE Secures Financing For Class-A Seniors Housing Community

    by | Apr 25, 2024 3:29 pm | Financings

    CBRE secured financing for a Class-A seniors housing community in North Dakota on behalf of a joint venture borrower. Built in 2017, New Perspective West Fargo is in Fargo, one mile from Sanford Medical Center, North Dakota’s newest and largest medical center. The community features 128 independent living, assisted living and memory care units... Read More »

  • PCP Purchases Ohio Assisted Living Community

    by | Apr 25, 2024 3:27 pm | Acquisitions

    Phorcys Capital Partners LLC, the investment advisor to Phorcys Senior Housing Recovery Fund LP (SHRF), announced it acquired a seniors housing community in Wickliffe, Ohio, through a trustee-directed short sale for $13.0 million, or $81,000 per unit. This is PCP’s second investment in SHRF, and it will continue to focus on the winding down of... Read More »

  • Newmark Closes Class-A Deal in Denver

    by | Apr 24, 2024 8:44 am | Acquisitions

    A new seniors housing community traded in the Denver, Colorado MSA, with the help of the team at Newmark. Developed in 2017, MorningStar at RidgeGate is located in the suburb of Lone Tree within the Ridgegate master plan that features retail, cultural amenities and a 284-bed hospital nearby. The property comprises five stories over subterranean... Read More »
Pillar Powers Through Two HUD Financings

Pillar Powers Through Two HUD Financings

by | Oct 6, 2017 7:00 am | Financings

The team of Pillar Financial, a division of SunTrust Bank, has been active lately, closing more than $20.7 million in financings for two Rust Belt seniors housing communities. Don Husi, based in Pillar’s Nashville office, first originated a $13.59 million HUD loan, with a 30-year term, to refinance a scattered-site that includes 143 beds spread across one large skilled nursing facility and two small assisted living communities in Menasha and Appleton, Wisconsin. The properties offer their residents a continuum of care, if need be. Then, in Moosic, Pennsylvania, Mr. Husi originated a $7.18 million HUD refinance for a 35-unit/58-bed memory care community. The 35-year loan took out an... Read More »
SunTrust Bank and Seniors Housing

SunTrust Bank and Seniors Housing

by | Oct 20, 2016 3:56 pm | Acquisitions, Financings

Despite an apparent tightening in the seniors housing financing world (a topic which we will discuss in detail in our webinar at 1PM on October 27), borrowers may soon have a new name to choose from. SunTrust Bank announced it intends to acquire substantially all assets of the operating subsidiaries of Pillar Financial, LLC, along with its multi-family, affordable housing, healthcare property, senior housing, and manufactured housing lending platforms. Pillar’s HUD, Fannie Mae and Freddie Mac licenses also enticed SunTrust, which would be able to offer agency lending options to its clients. In return, Pillar would gain access to a number of expanded products including bridge loans, equity... Read More »