Dwight Mortgage Trust Finances Bridge Loan
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, financed a $20 million bridge loan for Bria of Palos Hills, a 207-bed skilled nursing facility in Palos Hills, Illinois (Chicago MSA). Originally built in 1980, the facility received a major renovation and expansion in 2016 with the addition of a two-story wing connected to the original single-story structure. The original building primarily serves long-term care residents, while the newer extension is designed for short-term rehabilitation and post-acute care. Then in September 2023, one of the wings was converted into a specialized dialysis and ventilation unit, further enhancing the facility’s ability to provide high-acuity... Read More »
Texas Capital Bank Provides Financing to Regional Operator
A California-based regional senior care operator with more than 20 facilities across the western United States recently obtained a revolving credit facility, arranged by Grant Goodman of G Capital. Proceeds from the $30 million facility will be used to support working capital requirements and continue the owner’s strategic expansion as new acquisition opportunities arise. It was structured as a non-recourse, accounts receivable-based facility that includes several borrower-friendly features atypical in the current credit environment, including no prepayment penalty, a 180-day borrowing base and advance rates inclusive of assisted living waiver Medicaid. Priced at a highly competitive... Read More »
Harbert Management Corporation Secures Financing for California Community
Live Oak Bank provided a $25 million bridge-to-sale loan to finance a seniors housing community near Los Angeles, California. Harbert Seniors Housing Fund I LP, which is managed by Harbert Management Corporation, is the borrower. The financing features a three-year initial term, 36 months of interest-only payments and $2.8 million in potential future earnout proceeds. The property totals 97 independent living, assisted living and memory care units. Read More »
Florida Portfolio Locks in Refinancing
MONTICELLOAM announced the financing of a senior bridge loan and working capital facility for three skilled nursing facilities in southern Florida, totaling $108.75 million. The sponsorship group, a repeat client of MONTICELLOAM, intends to use the $105.5 million floating-rate senior bridge loan to refinance the existing debt on the portfolio. The $3.25 million working capital facility will be used to cover the day-to-day operational needs of over 500 licensed beds across the three facilities. Read More »
Mississippi Seniors Housing Portfolio Secures Refinancing
Steven Muth and Andrew Lanzaro of Berkadia recently completed the refinancing of a four-property seniors housing portfolio in Mississippi for a Southeast-based owner/operator, which is a first-time Berkadia client. Proceeds of the $14 million HUD loan paid off bank debt and partnership debt from a previous addition funded by the sponsor. The two properties were built in 1998 with additions in 2003 and 2013. All four loans have 35-year fully amortizing terms. Read More »Schedule a demo
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