Chris Blanda of Lancaster Pollard continued his work with Trilogy Health Services, recently refinancing a portfolio of 10 health campuses in Indiana with a $158.4 million HUD loan. Typical of many Trilogy-developed properties, this portfolio includes a mix of skilled nursing, rehab, assisted living, memory care and independent living units. The refinance comes with a […]
HJ Sims helped land financing for a couple of luxury senior living developments across the country this month, with two bond placements totaling over $45 million. The larger project, located in Palm Coast, Florida, is being developed by affiliates of the Tuscan Garden Group to include 86 assisted living and 44 memory care units (166 […]
Four skilled nursing facilities in Texas recently refinanced their debt with the help of Avi Begun and David Nussbaum of Harborview Capital Partners. Mr. Begun and Mr. Nussbaum arranged a $14.2 million bridge-to-HUD loan with a competitive LIBOR-based rate and three-year term. The portfolio features 472 total beds.
Three years after it opened in Tulsa, Oklahoma, an 86-unit assisted living/memory care community sold to an undisclosed buyer. To fund the purchase, Monique Bimler of KeyBank Real Estate Capital arranged a $13 million, or $149,400 per unit, Freddie Mac loan, with a 10-year term and 30-year amortization schedule. Legend Senior Living had developed the […]
In one of the largest financings of the July, Capital One provided a $77.7 million loan to Pacifica Companies to refinance nine seniors housing communities in Arizona, California, Florida, Oregon and Utah. The loan consists of $67.7 million in initial funding plus an earn-out feature, which is contingent on specific conditions. That gives Pacifica the […]
Hunt Mortgage Group, a subsidiary of Hunt Companies and a commercial real estate lender, has been slowly building its seniors housing/skilled nursing business since its launch in 2015. Now, Director Jim Neil has announced the firm’s largest senior care transaction yet with a $27.6 million HUD refinance of eight skilled nursing facilities in Texas. The […]
Housing & Healthcare Finance’s Capital Advisory Group has certainly been a success since its launch nearly two years ago. Focusing on bridge loans and credit facilities, the program has closed over $650 million in transactions, so far. Isaac Haas and Neil Gamss, who lead the group, continued their good work into this summer, arranging over […]
Six years since being acquired by Centers Health Care (then Centers for Specialty Care), a 510-bed skilled nursing facility in Brooklyn, New York is refinancing through HUD with the help of Greystone’s Fred Levine. The transaction comes at a good time for the facility, which has significantly improved its operations since Centers took over in […]
SunTrust Bank pulled double duty for an entrance fee CCRC in Stone Mountain, Georgia, providing permanent financing for both the existing community and a new addition in the form of a $74.4 million loan on behalf of the owner/operator, Isakson Living. Through its Aging Services practice, SunTrust provided a mix of fixed- and floating-rate debt, […]
A group of local owners in Colorado went to HUD to receive construction financing for their 137-unit senior living development in Monument, Colorado (between Denver and Colorado Springs). Having just broken ground last month, the community will feature 80 assisted living, 30 memory care (in two separate 15-unit neighborhoods) and 27 independent living units on […]