Ikaria Capital Group announced the successful funding of a $270 million term loan and $30 million preferred equity investment for a national private healthcare real estate investment group to support the acquisition of a 24-property skilled nursing and seniors housing portfolio located in the Pacific Northwest. First Citizens Bank led the bank syndicate in providing the first mortgage financing for the acquisition.
The portfolio encompasses facilities across multiple states, each with varying levels of acuity. There are 1,584 skilled nursing beds, 90 assisted living units and 450 independent living units. The existing management team will continue to operate the facilities and will retain an equity stake in the real estate following the closing. Leveraging its expertise in bridge-to-FHA/HUD transactions, Ikaria successfully closed this complex transaction and secured the future FHA/HUD takeout.
Ikaria Capital Group specializes in bridge lending, permanent lending, asset-based lending and capital advisory services, with a focus on the senior living and healthcare sectors. The firm’s team has over 100 years of combined experience and has closed more than $12 billion in deals throughout their careers.
