PGIM Arranges Refinance of Watercrest Community

One of Watercrest Senior Living Group’s success stories just reached stabilization and refinanced with the help of Chris Fenton of PGIM Real Estate Finance. Developed at an approximate cost of $17 million, or $191,000 per unit, in Sebastian, Florida, the 89-unit property opened in May 2016 and shot out of the gates in its lease-up, […]

 

Foundations Health Solutions Refinances SNF Portfolio

KeyBank Real Estate Capital is not slowing down after they claimed the top spot for HUD Lean volume in FY2018, going back to a portfolio of four skilled nursing facilities to arrange a HUD refinance. The facilities were part of a nine-SNF portfolio acquired by Foundations Health Solutions with the help of an $87.5 million […]

 

Capitol Seniors Housing’s Premium Sale

Only three years after buying a senior living community in Park Ridge, Illinois (Chicago MSA), Capitol Seniors Housing (CSH) is selling at a premium. Originally built as a hotel in 1962 but converted to senior living in 1986, this property includes 154 units of independent living, assisted living and memory care. CSH had purchased it […]

Greystone’s Bridge to HUD

Greystone’s Fred Levine successfully refinanced two skilled nursing facilities in Jackson, Tennessee. Greystone had actually provided the bridge loans used to fund the facilities’ acquisition in 2016 by a private Tennessee-based individual. The buyer had been leasing the facilities but exercised their right of first refusal to snap up the properties. The 160-bed facility sold […]

Skilled Nursing Portfolio Acquisitions Financed by KeyBank

KeyBank Real Estate Capital arranged acquisition financing for two skilled nursing portfolios in Nevada and Texas. A joint venture between Capital Senior Ventures and BlueMountain Capital Management was the buyer in both transactions. In the larger deal, Grant Saunders and Peter Trazzera provided a $105.8 million bridge loan to fund the purchase of 12 skilled […]

Lancaster Pollard Rocks Refinance for SanStone

Lancaster Pollard was brought in by North Carolina skilled nursing provider SanStone Health & Rehabilitation to reorganize its capital stack. Kevin Oakley acted as lead banker and, with the help of Gerald Swiacki and Joe Munhall, helped close a series of transactions resulting in more than $120 million in financing for the borrower. That included […]