Bond Proceeds to Fund California Seniors Housing Development
JLL and HJ Sims arranged $252.1 million in tax-exempt and taxable bond financing for the development of The Marisol, a 214-unit seniors housing community in Huntington Beach, California. It is currently under construction and set to open in 2028. HJ Sims acted as lead book-running manager on the senior bonds and JLL Securities served as co-manager and led the process in securing the investor for the subordinate bonds. JLL’s Senior Housing Capital Markets team, as real estate advisor, also collaborated on the project. The fixed- and floating-rate financing was structured into Series A senior bonds and subordinate Series B and C bonds, and was issued through the California Public Finance... Read More »
Tremper Capital Group Closes Several Financings
Tremper Capital Group showed off its variety with a series of financings closed for clients across the country. They included a construction loan, an acquisition loan, a bank refinance and a portfolio financing. First, the team closed non-recourse construction financing for an assisted living/memory care community in the Dallas-Fort Worth area. The financing supports the continued expansion of a high-quality seniors housing platform backed by Braemar Partners and operated by The Arbor Company. Construction projects are still getting done (and financed), as long as they are catering to high-income seniors in high-growth markets, with best-in-class operators, of course. Next, TCG closed... Read More »
Developer and Operator Secure Construction Financing
Another new development will soon be underway, with BLDG Real Estate and The Fellowship Family securing financing for a $100 million full-continuum community, Fellowship Wildlight. BLDG Real Estate is a real estate development firm that specializes in design, development and asset execution across multiple product types. The Fellowship Family is a multi-generational seniors housing owner/operator with a portfolio across the Southeast that offers independent living, assisted living, memory care and active adult units. Fellowship Wildlight is set to include 125 independent living units, eight active adult cottages, 48 assisted living units and 24 memory care units. The community will... Read More »
60 Seconds with Swett: Sticks and Bricks in ’26?
The talk around new development is getting a lot more serious in the seniors housing industry, leading us to wonder if our 2024 prediction of “Sticks and Bricks in ‘26” may actually come true, somewhat. Back then, we may have thought that interest rates would have come down a bit more by now, but that the FOMO of getting involved in seniors housing combined with rising prices in the M&A market would kick off a new building boom. We doubt there will be any “boom” in 2026, but the signs are there for increased activity. A couple of architects we spoke to at NIC said they were busier than ever, even if most builders are not putting as many shovels in dirt as they would like. The main... Read More »
RiverSpring Living Develops First NYC CCRC
Ziegler and HJ Sims, as co-managers, completed a $632.9 million tax-exempt bond financing for not-for-profit RiverSpring Health Living, Inc. Proceeds of the issue will be used to develop River’s Edge, a new CCRC set to comprise 260 independent living units on RiverSpring Living’s existing 32-acre campus in the Riverdale section of the Bronx, New York, overlooking the Hudson River, the Palisades, the George Washington Bridge and the Manhattan skyline. The project, the first phase of a planned two-phase development, will sit on land leased from the Hebrew Home at Riverdale, the skilled nursing component of the RiverSpring Living campus. At financing, the project had secured presales on... Read More »Schedule a demo
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