Stay up-to-date on skilled nursing and assisted living businesses, retirement communities, REITs and home health care with The SeniorCare Investor newsletter. For over 50 years, The SeniorCare Investor has been tracking mergers, acquisitions, equity & debt financings, bankruptcies and corporate shake-ups in the senior care market.
Total HUD LEAN loan volume hasn’t yet reached the heights of its FY2014, when the program closed over $4.2 billion in loans in 484 transactions, but it is getting there. In its FY2017, lenders closed just over $3.4 billion in 310 deals, up 20% from FY2016’s $2.84 billion volume (in 287 deals) and up 26% […]
Lancaster Pollard didn’t rest on its laurels for long. After HUD announced that Lancaster Pollard beat out all other HUD LEAN lenders in both number of transactions (79) and loan volume (nearly $770 million), the firm closed another HUD loan on behalf of Premier Senior Living. A group of seven of its senior care facilities […]
A not-for-profit CCRC in the Rancho Bernardo area of San Diego, California is planning a large expansion to its skilled nursing services, to include a brand-new 72-bed, three-story skilled nursing building, plus various improvements to the assisted living and memory care communities. The project is Phase II of a three-phase retooling of the 500-unit community, […]
Greystone seems to have specialized in Queens financings, as the firm went back to the New York borough to close two more HUD loans for a couple of large skilled nursing facilities. This summer, Fred Levine, working out of the firm’s Monsey, New York office, arranged a $60 million HUD refinance for a 302-bed SNF […]
Love Funding and a family-owned care provider continued their successful partnership together, with Love helping the business refinance their assisted living community in Toms River, New Jersey. With 35 years of experience developing and operating senior care communities in New Jersey, the family has worked with Love for some 15 years. It opened its 79-unit […]
A skilled nursing facility in Oak Brook, Illinois (Chicago MSA) that has undergone several changes in recent years refinanced its debt with Capital One. Built in stages from 1971 to 1989, with a therapy gym constructed in 2007, the facility is currently owned by a private owner/operator with other properties in the state. A number […]
MidCap Financial is back in the news, having provided a $17.5 million bridge-to-HUD loan to an assisted living/memory care community in Reno, Nevada. The three-year, floating-rate loan will take out construction debt and recapture equity in the property, which was developed in 2016 with 116 total units. Lease-up was quick, reaching 88% occupancy within a […]
Aron Will of CBRE once again showed off his range, and his reach, closing two financings for clients in California and Michigan. First, in Traverse City, Michigan, a 388,000-square foot former asylum that underwent a decade-long redevelopment into a massive mixed-use neighborhood capped off the project with a brand-new, 110-unit independent living/assisted living community in […]
The team of Pillar Financial, a division of SunTrust Bank, has been active lately, closing more than $20.7 million in financings for two Rust Belt seniors housing communities. Don Husi, based in Pillar’s Nashville office, first originated a $13.59 million HUD loan, with a 30-year term, to refinance a scattered-site that includes 143 beds spread […]
HJ Sims helped finance a couple of the largest not-for-profit providers of senior care and health care in the country in order to team up and combine their services in the Bismarck/Mandan area of North Dakota. The Evangelical Lutheran Good Samaritan Society (ELGSS), which currently operates over 224 senior living and care communities, and Sanford […]