Joint Venture Secures Acquisition Financing
A joint venture between Winterpast Capital Partners, Vitality Senior Living Management and Virtus Real Estate Capital acquired an assisted living/memory care community, securing bridge financing through Coastal States Bank. The financing includes reserves to support the joint venture’s ongoing repositioning of the community and was structured with competitive terms. The 97-unit asset is in the Preston Hollow neighborhood of Dallas, Texas, and was previously acquired in December 2023 by a joint venture. According to LevinPro LTC, that joint venture was between Winterpast, Vitality and Marcus Investments. At the time, it was known as Crystal Creek at Preston Hollow and comprised 119 assisted... Read More »
Bridge-to-HUD Refinance Provided for Undisclosed Borrower
Greystone provided a $35 million bridge-to-HUD refinance for a 102-unit high-quality assisted living portfolio in Southern California. The financing was originated by Christopher Clare, with David Young, Ryan Harkins, Ben Rubin, Parker Nielsen and Liam Gallagher assisting in the transaction. The interest-only bridge financing refinanced existing debt on the portfolio and provided significant cash out to the borrower, while creating a path toward permanent FHA/HUD-insured financing through Greystone’s integrated bridge and HUD lending platform. Read More »
Bonds Issued for Independent Living Expansion
Ziegler closed John Knox Village’s $47.85 million Series 2026A, B-1, B-2 and B-3 bonds issued through the City of Lee’s Summit, Missouri. John Knox Village (JKV), a Missouri not-for-profit corporation, is a CCRC consisting of 1,038 independent living units, 180 assisted living units and 121 skilled nursing beds. This transaction marks JKV’s seventh financing with Ziegler since 2007. The Series 2026 bonds consist of four tranches of tax-exempt debt: Series 2026A Fixed Rate bonds ($18.85 million), Series 2026B-3 TEMPSSM-50 ($17.05 million), Series 2026B-2 TEMPSSM-70 ($6.83 million) and the Series 2026B-1 TEMPSSM-85 ($5.13 million). Proceeds, along with a $500,000 equity contribution... Read More »
California AL/MC Community Secures C-PACE Financing
The owner of a seniors housing community in Simi Valley, California, was evaluating a recapitalization of the asset and worked with Bayview to secure C-PACE financing. The borrower wished to return some equity for future investments while also reducing existing bridge debt. Bayview identified an opportunity to structure a look-back C-PACE loan against approximately $13 million of eligible costs, generating accretive proceeds that supported both sponsor liquidity and paydown of the existing bridge facility (without displacing senior debt). The loan came with a 29-year term and closed approximately six weeks after term sheet execution. Varenita of Simi Valley has been operated by... Read More »
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 »Schedule a demo
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