• Ziegler Sells Asset on Behalf of Marquee Capital

    Ziegler, a specialty investment bank, served as exclusive financial advisor to Marquee Capital (formerly, Berengaria Development) on the sale of Terova Senior Living, a 101-unit senior living community in Mequon, Wisconsin. Marquee Capital is the real estate company affiliated with Marcus Investments, LLC, the Marcus’ family office. Located in... Read More »
  • Lument Arranges Two Short-Term Debt Transactions

    Lument announced a couple of financings involving short-term debt, one for an acquisition and one to refinance a stabilizing seniors housing property. First, a long-time operator of a 150-bed skilled nursing facility in Oklahoma City, Oklahoma, was able to take its ownership interest in the facility from 33% to 100% with the help of acquisition... Read More »
  • Cushman & Wakefield/Greystone JV Announces Latest Refinance

    Cushman & Wakefield and Greystone jointly announced the successful refinance of Kōz on Weaver Road, a 100-unit seniors housing community in Snohomish, Washington. Kōz Development, LLC developed the community in 2020 to feature 40 studios, 40 one-bedroom and 20 two-bedroom units in five stories. There are also common spaces on each floor and... Read More »
  • New IL Community Funded by Ziegler

    Investment banking firm Ziegler just closed a $31.96 million tax-exempt financing on behalf of EveryAge (formerly United Church Homes and Services), which is a North Carolina-based not-for-profit that consists of three retirement communities and other programs. The funds will be used to construct BellaAge Hickory, located in downtown Hickory,... Read More »
  • 60 Seconds with Swett: The Keys to Retirement Success

    Last week, a partnership between Age Wave and Edward Jones conducted a survey with The Harris Poll, getting more than 12,000 respondents, the majority of which were retirees and pre-retirees, to answer questions on the keys to success in retirement. With Edward Jones as one of the initiators of the survey, being a major financial advisory firm,... Read More »
Berkadia and Live Oak Bank Close Four Bridge Loans

Berkadia and Live Oak Bank Close Four Bridge Loans

Berkadia Seniors Housing & Healthcare partnered with Live Oak Bank to close four bridge-to-HUD loans totaling $86 million in the first quarter of 2023. The partnership, which started in October 2022, has closed $143 million of bridge-to-HUD and GSE transactions to date, the majority of which have been structured as A/B notes with Berkadia funding the B-note. The interest-only loans typically carry terms of 24 months with rates floating over one-month term SOFR. They facilitated purchases and refinances of four assisted living/memory care communities, two skilled nursing facilities, and one independent living community, all scattered throughout the country. Managing Director Jay Healy... Read More »
Berkadia Announces Three Hires

Berkadia Announces Three Hires

There was some big news out of Berkadia, which announced the addition of Managing Directors Austin Sacco, Cody Tremper and Mike Garbers to its Seniors Housing & Healthcare team. Tremper and Garbers will report to SVP and Co-Head of Investment Sales and Production Mike Miner, and Sacco will report to SVP and Head of FHA and Seniors Housing Finance Steve Ervin. The trio bring a combined 48 years in the seniors housing industry with experience across a variety of asset classes. Coming from JLL, Garbers has over 20 years of experience in the seniors housing industry and has been involved in developing, acquiring and selling over $8 billion in seniors housing properties throughout the... Read More »

Live Oak Bank/Berkadia Close Utah Loan

Live Oak Bank closed a $16.3 million A/B unitranche loan for an owner/operator of skilled nursing facilities in Utah. Berkadia Commercial Mortgage’s Seniors Housing & Healthcare Group assisted in the process, too. The financing provided bridge-to-HUD debt for a 38-bed transitional care/skilled nursing facility that opened in 2019 and provides short-term rehabilitation services. The loan announcement comes after Live Oak Bank closed a $13 million loan to refinance a 94-unit assisted living/memory care community in Lawrenceville, Georgia. That property also opened in 2019 and was leasing up when the pandemic began. So, the loan allows for additional time to fill the community before a... Read More »
Berkadia Arranges Active Adult Sale and Financing

Berkadia Arranges Active Adult Sale and Financing

Berkadia Institutional Solutions announced the sale and financing of a 55+ rental community in Dallas, Georgia. Earlier this month, Levin Pro LTC covered the sale of the community, which was Hardy Springs, a 149-unit single-story, built-for-rent community in the Atlanta suburb. Managing Director Russ Hardy of Berkadia Atlanta and Directors Brooks Minford and Simona Wilson of Berkadia Seniors Housing and Healthcare completed the $47.75 million, or $320,000 per unit, sale on behalf of the seller, Georgia-based Highlands Residential. John Bray of Berkadia arranged acquisition financing through Fannie Mae to support the transaction. The buyer is South Carolina-based and emerging active adult... Read More »
Berkadia Closes Seven Financings

Berkadia Closes Seven Financings

Berkadia announced $177 million in financings across seven deals, with Bianca Andujo, Ed Williams, Jay Healy, Rafael Nobo and Chris Cain working on the transactions. There were four HUD loans, the largest being a $62 million arranged by Mr. Williams for a senior living community in Portland, Oregon. At 70% loan-to-value, the financing retired a Berkadia-arranged 232/223(a)(7) loan from 2021 and a surplus cash note provided by Berkadia’s Proprietary Lending Group.  Mr. Williams also secured a $13.65 million loan for a 100-unit assisted living/memory care community in Arizona that qualified for reduced seasoning and refinanced a cash-out loan originated in late 2021. The cash-out loan... Read More »