Seniors Housing Communities Sell in Southwest Florida
Berkadia has announced a couple of closings in southwest Florida. First, Brooks Minford headed to the Tampa, Florida area to sell a 138-unit assisted living/memory care community on behalf of a local developer that was looking to exit the seniors housing business. They had built Tessera of Brandon in 2017 to feature a mix of 98 assisted living and 40 memory care units. And it was operated by a third-party operator under a net lease, which was terminated upon the sale closing. An Orlando-based owner/operator emerged from an active bidding environment to purchase the community, with plans to add value through census improvement and physical enhancements. Berkadia’s Ross Sanders, Dave... Read More »
California SNFs Secure HUD Financing
Just a year after funding the acquisition and refinance of two skilled nursing facilities in California, Greystone returned to take the facilities to HUD. Totaling 219 beds, the facilities are located in Menlo Park and Los Banos. Kalesta Healthcare Group acquired them in 2025 and 2021, respectively, and sought a combined refinance in 2025. Grant Goodman of G Capital served as Kalesta’s capital advisor and brought the opportunity to Greystone as part of a competitive debt market process. In March 2025, Greystone provided a $40.5 million bridge loan with an interest-only term, no recourse and a 24-month term with two six-month extension options. The facilities had recently stabilized,... Read More »
Borrower Refinances and Recapitalizes SNF Portfolio
Capital Funding Group closed a $72.4 million bridge financing on behalf of a nationally-recognized borrower. It will support the refinancing and dividend recapitalization of a skilled nursing portfolio comprising nine facilities throughout Georgia, North Carolina and South Carolina. CFG aligned the bridge financing with a clear path to permanent execution, allowing the borrower to access liquidity now while positioning the assets for continued performance. Jimmy Zabel originated the transaction for the company. Read More »
Near-Stabilized AL/MC Community Lands Refinance
Carnegie Capital closed a bridge refinance for a 50-unit assisted living/memory care community in the Houston, Texas MSA. Four years ago, the property was bought by a California-based operator with a growing footprint in Texas. Performance was approximately two to three months from stabilization, but with the acquisition loan maturity looming, a refinance was sought. Carnegie arranged a non-recourse loan for the principals, given the structure of the sponsor’s fund. The loan carries a three-year term, and the borrower has plans to go to HUD in two years. Read More »
Record-Setting HUD Express Lane Application to Commitment
Cambridge Realty Capital provided a $6.15 million loan to refinance Avalon Memory Care Keller, a 50-bed stand-alone memory care community in Keller, Texas (Dallas-Fort Worth MSA). The fully amortized, 35-year HUD loan was provided for the owner, a Texas limited liability company, that wished to recast bank debt into a long-term non-recourse mortgage. Cambridge utilized the Express Lane program to refinance the existing HUD loan, and the application to commitment was issued in a record-setting five calendar days. Read More »Schedule a demo
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