Brooks Blackmon and Ben Firestone of Blueprint Healthcare Real Estate Advisors sprung into action this year in Springfield, Missouri, where the pair sold a 119-unit senior living community on behalf of a Missouri-based ownership group. Originally built in 2008, the property was expanded in 2012 to keep up with local demand. It now features 54 […]
It’s been quite a lucrative relationship between Lancaster Pollard and California-based skilled nursing operator, Plum Healthcare Group. About 18 months ago, Grant Goodman, Jason Dopoulos, Joe Munhall and Elliot Kaple secured $400 million in bridge financing from Credit Suisse on 27 skilled nursing facilities in California owned by Plum. However, that was short-term, corporate-level recourse-based […]
A large skilled nursing facility in Long Island, New York refinanced its existing bridge debt with a $71.3 million HUD loan provided by Greystone. Fred Levine originated the transaction, which came with a 30-year term, 30-year amortization, and a low, fixed interest rate. Originally built in 1974, the facility features 320 beds in Amityville. There […]
The Knapp Group of Marcus & Millichap announced the sale of a 42-unit assisted living community in rural southwest Kentucky. Built in 2014 on over 10 acres, the community boasted occupancy around 90% and strong cash flow. It was previously a family-run business, but the Knapp Group secured a local buyer to take over both […]
Three years after acquiring a supportive living community in Pontiac, Illinois, a regional owner is refinancing the property with the help of Cambridge Realty Capital Companies. Originally built in 2009, the 60-unit community is made up of 52 private studio and eight one-bedroom units. It is also located just minutes from OSF St. James Hospital. […]
Lancaster Pollard recently helped Innovative Health secure construction financing for their to-be-built skilled nursing facility in Aurora, Illinois. The transitional care facility will operate under the THRIVE brand and focus on short-term rehabilitation. It is being built with 68 beds in 60 units and 50,582 total square feet on a 4.25-acre site. According to public […]
Berkadia announced a series of loan closings last month totaling $57.2 million. There were four HUD financings, including three loans totaling $26.2 million closed for a portfolio of three skilled nursing facilities in Washington. Jay Healy arranged the financing for a Washington-based owner/operator, which used the proceeds to pay off short-term debt, fund improvements to […]
Bill Janis and Mario Wilson of Helios Healthcare Advisors represented a family owner in their complete exit from the skilled nursing industry with the sale of their 169-bed SNF in an upscale suburb of Boston, Massachusetts. Consistently achieving a four- or five-star rating from CMS, the facility maintained a good reputation in the local market. […]
BMO Harris Bank’s Healthcare Real Estate Finance group has been busy lately closing credit facilities for senior living clients. The first transaction saw the bank close a $59.4 million facility for LCS’ acquisition of The Clare CCRC in downtown Chicago, Illinois. We profiled the sale in this month’s edition of The SeniorCare Investor, and subscribers […]
Harbert Seniors Housing Fund II, L.P. has acquired a 134-unit senior living community in Rocklin, California thanks to a Fannie Mae financing arranged by Greystone. Built in 2015 and operated by Merrill Gardens, this community operated with independent living, assisted living and memory care units, with a licensed capacity of 142 residents. Merrill Gardens will […]
