A 195-unit senior living community still in lease-up just refinanced its construction debt with the help of its advisors: Richard Swartz, Jay Wagner and Jim Dooley of the Cushman & Wakefield Senior Housing Capital Markets team. A partnership between Pike Senior Housing Partners and operator Solvere Senior Living developed the community in Hamilton, New Jersey, […]
We are living through a time of unprecedented capital flowing into the seniors housing and care market. Lenders are crowding into the space (if you need proof of this, just look at all the green lanyards signifying capital providers at NIC). Private equity firms report billions of dollars of funds currently sitting on the sidelines […]
Chicago Pacific Founders announced its second acquisition for July, following up on its purchase of a senior living community in Scottsdale, Arizona by picking up three senior living communities in the Pittsburgh, Pennsylvania market. One of the communities, in North Versailles, was opened in 2009 and is fully stabilized. The other two were opened more […]
Canyon Partners Real Estate LLC, the real estate direct investing arm of global alternative asset manager Canyon Partners, just made its third equity investment in a seniors housing development, partnering with operator Griffin Living in each project. The latest development is located near Westlake Village, California, and will feature 86 units, 58 for assisted living […]
A massive senior living community in Fort Myers, Florida, has plans to replace its skilled nursing facility, and just received bond financing to do it. Ziegler arranged the placement of the $81.16 million in bonds for the Obligated Group, which consists of two Florida not-for-profit organizations: The Christian and Missionary Alliance Foundation, Inc. (d/b/a Shell […]
Seniors housing occupancy rates still remain low despite an apparent slowdown in new development. Whether you look at the total market, or simply the stabilized properties, second quarter occupancy took a small dip, according to recent numbers from NIC. Truth be told, I was hoping for a slight increase after a relatively modest flu season, […]
We disclosed last week that activist investor Land & Buildings (L&B) had nominated Jay Flaherty, former CEO of HCP, Inc., and Jonathan Litt (founder of L&B) for board election at the 2019 annual meeting of Brookdale Senior Living. L&B has just sent an open letter to Brookdale shareholders providing more rationale for the election of […]
Senior living development is certainly not starved for capital, as another lender has entered the senior living development space. Commercial Real Estate Finance is currently involved in the retail, multifamily, single-family and hospitality markets, but it recently added a senior living division. Its services were retained by WRC Development Partners LLC to procure a $26 […]
Housing & Healthcare Finance (HHC Finance) has had a busy summer, closing three HUD refinances totaling $56 million, so far. All three loans were arranged for skilled nursing clients and featured interest rates substantially below 4%. Based on the rumblings (public or otherwise) from the Federal Reserve, it appears borrowers will have at least a couple more years […]
An affordable senior apartment community in Oxnard, California just refinanced with the help of Marty Meagher and Gardiner Champlin of NorthMarq‘s San Diego office. Consisting of 101 units, the community received a $7.6 million loan from Fannie Mae, with a 10-year, interest-only term and a fixed interest rate. The financing paid off existing bond debt that […]