CFG Finances Over $1.7 Billion in 2023
Capital Funding Group announced the company executed or arranged more than $1.7 billion in financing across 50 deals in 2023. These financings included 24 healthcare bridge-to-HUD loans, five multifamily bridge loans and 11 HUD loans. Financing of the multifamily bridge-to-HUD loans totaled approximately $49.7 million of the company’s annual financing. In that timespan, CFG closed numerous refinances, including: $7.2 million HUD loan for a 75-bed skilled nursing facility in Ohio. $15.5 million HUD loan for a 118-bed skilled nursing facility in Arizona. $43.4 million HUD loan for a 140-bed skilled nursing facility in California. $13.8 million mezzanine loan for 12 long-term care facilities... Read More »
Family Office Acquires in California
Sherman & Roylance was engaged by a new player in the seniors housing sector in its divestment of an assisted living/memory care community. The seller is refocusing its efforts on geographic areas closer to its core operations. The buyer, a San Diego-based family office, acquired the community for a purchase price of $8.25 million, or $180,000 per unit. The multi-phased community, built in 1955 and expanded through 1999, comprises 46 units with 55 beds in Monterey, California, close to Pebble Beach. At the time of closing, it was 60% occupied. Shep Roylance, John Sherman and Chris Minnery of Sherman & Roylance handled the transaction. Read More »
Joint Venture Acquires Three Class-A AL/MC Communities
JLL Capital Markets facilitated the sale of three Class-A seniors housing communities in Wildwood, Town & Country, and Kansas City, Missouri. These assets were acquired by a joint venture of Artemis Real Estate Partners, Scarp Ridge Capital Partners and Arrow Senior Living. JLL represented the seller and procured the buyer, led by Scarp Ridge and capitalized by Artemis, while Arrow will take over operations of the communities. This acquisition marks the first for the venture. Built between 2016 and 2018, the communities comprise 252 units of private pay assisted living and memory care. The Wildwood and Town & Country communities are each three-story AL/MC communities with 81 and 86... Read More »
Two SNFs Change Hands in Texas
Blueprint was engaged in the divestment of two value-add skilled nursing facilities in east Texas. These facilities, located just 15 minutes apart, total 320 beds. Despite experiencing historical lows in census as well as staffing challenges, the facilities were showing signs of improvement and were trending back towards their historically achieved stabilized levels. Additionally, the transaction involved assumable HUD debt with an interest rate of 2.90% and a remaining term of over 25 years. Giancarlo Riso, Amy Sitzman and Ryan Chase of Blueprint handled the transaction, procuring five competitive offers. The selected buyer was a regional owner/operator with a strong certainty of... Read More »
Pleasant Spring Communities and HumanGood Affiliate
Ziegler was enlisted by Pleasant Spring Communities in its affiliation with HumanGood, California’s largest not-for-profit, faith-based provider of seniors housing services. The decision to select HumanGood was based on its reputation, financial strength and shared values, after considering numerous qualified local, regional and national not-for-profit senior living organizations. Selecting the right partner was driven by several factors, including aligning with an organization well-positioned to bring innovative programming, provide expanded opportunities in career development and advancement, streamline and standardize processes and protocols, and enhance operational efficiencies.... Read More »Schedule a demo
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