As joint venture partners TH Real Estate (an affiliate of Nuveen, the investment management arm of TIAA) and LCS continue their acquisition activity, BMO Harris Bank’s Healthcare Real Estate Finance group got in on the action and arranged acquisition financing for two of the deals. First, the firm acted as sole lender for a $14.4 million term facility for a CCRC in Palm City, Florida with 225 independent living units, 20 assisted living units and 36 skilled nursing beds.
They again acted as sold lender for another $12.3 million term facility arranged for a CCRC in Essex, Connecticut with 189 independent living units (including 13 cottages) and 45 skilled nursing beds.
