VIUM Capital announced it has closed four transactions totaling more than $250 million to kick off an active fourth quarter. In Indiana, VIUM kicked off October by closing a $136.8 million acquisition loan for a skilled nursing portfolio comprising 1,470 beds across 17 facilities. The purpose of the bridge was to acquire the real estate associated with these facilities and immediately refinance as many of the loans as possible to HUD. Most of the buildings are stabilized with a strong credit tenant and manager in place, so they stand a good chance.
VIUM closed another acquisition loan totaling $16.34 million for a 64-unit assisted living community in Michigan. There was an initial $4 million earnout, of which $3.2 million was released at closing based on a trailing six-month financials achieving 1.25x DSCR.
Next, the team closed an assisted living portfolio acquisition financing totaling $89.4 million for a Minnesota-based multi-site owner/operator. A debt fund provided $26.27 million of the debt, while the remaining $63.11 million came from VIUM’s balance sheet. The nine assisted living communities comprise 580 units in the states of Ohio and Pennsylvania. Proceeds of the financing were used to acquire the portfolio, fund modest capital improvements and fund an interest reserve.
To finish off October, VIUM closed a $7.78 million HUD refinance for a 130-bed supportive living facility in Illinois. The new loan took out an IHDA/HUD risk share mortgage, allowing the borrower to achieve debt service savings and create a permanent debt structure for the stabilized project.
