Carnegie Capital, the national seniors housing debt brokerage founded and run by JD Stettin and David Farhadian, celebrated its 10-year anniversary with a $124 million, or $117,100 per bed, portfolio acquisition transaction. Carnegie provided a combination of advisory work and debt placement for the nine-skilled nursing facility portfolio with 1,059 beds across southern and central Texas.
A private skilled nursing equity shop bought the portfolio three years ago, helped by debt arranged by Carnegie, and is now exiting the industry with the portfolio sale to a large REIT. The portfolio has been operating well since the 2022 acquisition. The REIT also spun off one of the largest SNFs to sell to the portfolio operator, one of the largest operators in the state, which acquired it using HUD debt that Carnegie placed with Walker & Dunlop.
Carnegie was also recently engaged by HJ Sims to assist with a complex assisted living refinance in Texas, closed loans for Columbia Pacific Advisors, as well as arranged financing for one of the top three largest SNF operators in the country.
Over the last 10 years, Carnegie has helped its clients grow and scale by providing brokerage service, including a range of potential capital partners, coupled with expert underwriting and deal preparation services. The firm has closed loans in almost every state across a range of executions from ground-up construction to acquisitions, cash out refis to turn-around rescue loans. Its clients have ranged from solo owner/operators to some of the largest seniors housing funds in the country. Carnegie has closed loans as small as $930,000, as well as multiple transactions over $100 million, and everything in between, and it has closed with over four dozen unique lenders, including banks, CUSOs, credit unions, CDFIs, insurance companies, bridge lenders and the agencies.
