A massive senior living community in Fort Myers, Florida, has plans to replace its skilled nursing facility, and just received bond financing to do it. Ziegler arranged the placement of the $81.16 million in bonds for the Obligated Group, which consists of two Florida not-for-profit organizations: The Christian and Missionary Alliance Foundation, Inc. (d/b/a Shell […]
Seniors housing occupancy rates still remain low despite an apparent slowdown in new development. Whether you look at the total market, or simply the stabilized properties, second quarter occupancy took a small dip, according to recent numbers from NIC. Truth be told, I was hoping for a slight increase after a relatively modest flu season, […]
We disclosed last week that activist investor Land & Buildings (L&B) had nominated Jay Flaherty, former CEO of HCP, Inc., and Jonathan Litt (founder of L&B) for board election at the 2019 annual meeting of Brookdale Senior Living. L&B has just sent an open letter to Brookdale shareholders providing more rationale for the election of […]
Senior living development is certainly not starved for capital, as another lender has entered the senior living development space. Commercial Real Estate Finance is currently involved in the retail, multifamily, single-family and hospitality markets, but it recently added a senior living division. Its services were retained by WRC Development Partners LLC to procure a $26 […]
Housing & Healthcare Finance (HHC Finance) has had a busy summer, closing three HUD refinances totaling $56 million, so far. All three loans were arranged for skilled nursing clients and featured interest rates substantially below 4%. Based on the rumblings (public or otherwise) from the Federal Reserve, it appears borrowers will have at least a couple more years […]
An affordable senior apartment community in Oxnard, California just refinanced with the help of Marty Meagher and Gardiner Champlin of NorthMarq‘s San Diego office. Consisting of 101 units, the community received a $7.6 million loan from Fannie Mae, with a 10-year, interest-only term and a fixed interest rate. The financing paid off existing bond debt that […]
Check out our recent senior care M&A deals.
A large Missouri-based skilled nursing operator just increased its scale in the region with the purchase of a 136-bed skilled nursing/assisted living facility in Pacific, Missouri. Jeff Binder and Patrick Byrne of Senior Living Investment Brokerage facilitated the transaction, generating eight offers for the facility. Originally built in 1986, the SNF portion features 120 beds […]
A brand-new independent living community is set to open this month in the Richmond, Virginia market to the tune of $31.6 million, or $213,500 per unit, to build. Featuring 10 different floor plans and one- or two-bedroom unit options, the Henrico community is located adjacent to a gated active adult community, where its resident will […]
Facing rising short-term interest rates, a not-for-profit CCRC in the Philadelphia, Pennsylvania, market turned to Ziegler to refund its existing bank debt with a tax-exempt bond issue. The community is located on a 63-acre campus about 10 miles northwest of downtown Philadelphia in the town of Gladwyne, offering 151 independent living units, 69 IL villas, […]
