Bridge to success
Capital Funding Group closed three bridge-to-HUD loans for three turnaround opportunities totaling over $25 million, all of which helped finance acquisitions. First, Gary Sever originated a $10.8 million loan, provided by Capital Lending and Mortgage Group, to facilitate the acquisition of two skilled nursing facilities (with 151 and 64 beds, respectively) by affiliates of the ARBA Group for $9.5 million. The funds also allow ARBA to renovate both facilities. Next, Mr. Sever originated an $8.16 million loan from Capital Funding, LLC for ARBA to acquire a 365-bed (though with 265 functional beds) skilled nursing facility in Fort Worth, Texas for $9.6 million. Built in 1974, the facility was... Read More »
Schizophrenia in the development market?
In our most recent webinar, held on January 21 and titled “Investing in the Senior Care Development Market,” we asked our listeners a couple of questions to gauge their opinion on certain potentially pivotal matters in the industry. First, we asked “Today, is it better to build or buy?” And second, we posed the question, “Do you think the development market will boom or bust?” Not surprisingly, over two-thirds (72% to be exact) of the audience preferred building to buying these days, and we suspect that acquisition prices as they are must play a big part in that divide. But, after that relatively optimistic response to the development market, 75% of the audience believed the development... Read More »Walker and Dunlop back at it
Not resting on its laurels following the recent $1.27 billion Freddie Mac financing it closed, Walker & Dunlop announced another financing, this time structuring a $68.2 million construction loan for a 318-unit senior living community to be built in Palm Beach County, Florida. The loan featured a floating rate of about 300 basis points over LIBOR and covered about 70% of the over-$100 million (about $314,500 per unit) development. Ventas will provide equity capital and will be the principal owner of the community in partnership with the developer, Big Rock Partners. Designed by Gensler and to be constructed by Moss & Associates, the 425,000-square foot community will feature 186... Read More »
Laying the ground work
After a solid end of year in deal volume for The JCH Group, as detailed in the January issue of The SeniorCare Investor, which also included the sale, arranged by Jim Hazzard and Nick Stahler, of a 35-unit memory care community in Orange County for $6.25 million, or about $179,000 per unit, the firm is looking forward. And while the fourth quarter was a healthy one for JCH, Q1:16 should see quarterly sales volume of up to $75 million. So, stay tuned to follow those closings. Read More »Schedule a demo
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