Greystone Goes Big on Long Island

A huge skilled nursing facility on Long Island, New York just refinanced through HUD, with the help of Fred Levine of Greystone. Totaling 588 beds, this facility provides clinical care, physical, occupational and speech therapies, amputee rehabilitation, and pulmonary, ventilator, cardiac and memory care. It also received multiple significant renovations to its five inter-connected buildings. In […]

BMO Harris Bank Finances Watercrest’s Latest Senior Living Development

Watercrest Senior Living Group’s latest development in Florida just obtained a construction loan courtesy of BMO Harris Bank’s Healthcare Real Estate Finance group. The community just broke ground last August and is anticipated to open in Summer 2020 with 72 independent living, 96 assisted living and 30 memory care units. Watercrest is developing the community […]

CBRE Sells The Village Portfolio (And Finances It Too)

CBRE pulled doubly duty for a pair of assisted living/memory care communities in Houston, Texas, arranging both the sale on behalf of the seller and acquisition financing for the buyer. Dubbed “The Village Portfolio,” these communities total 224 units and are located within a 10-mile radius of the largest medical center in the world, the […]

Lancaster Pollard Closes Bridge Loan Trifecta

Lancaster Pollard’s bridge lending program got a good workout in the new year with three new closings. The team of Scott Blount, Chris Mauger, Brian Cafarella and Eric Sengpiel closed the largest transaction, which totaled $12 million, on behalf of Advanced Healthcare Management to acquire a 120-bed skilled nursing facility in Southaven, Mississippi. A local […]

Capital One Secures Refinance of Illinois Assisted Living Community

Five years after acquiring a 154-bed assisted living community in Park Ridge, Illinois, Cascade Capital Group (with Legacy Healthcare as its operating partner) is refinancing with the help of Capital One. Joshua Rosen originated the HUD loan, which totaled $15.1 million, came with a 35-year term and replaced conventional bank debt. In the years since […]

Berkadia’s Big End-of-Year Closing

Berkadia headed out of 2018 with a bang, closing a credit facility that totaled more than $200 million. Secured by 19 senior living communities owned by Capital Senior Living Corporation, the facility came with both fixed and variable interest rates, a 10-year term and 30-year amortization schedule financed through Fannie Mae. Approximately $150.8 million of […]

CBRE Secures HUD Construction Financing in Illinois

Illinois’ Lake County is getting a new post-acute/transitional care facility, helped by a $25.92 million HUD construction loan arranged by Aron Will and Mark Tran of CBRE. Innovative Health obtained the 40-year loan, which featured an 18-month construction period and was provided through CBRE’s HUD 232 direct lending program. Innovative’s new 185-bed facility will replace […]

Cambridge Replaces Bridge Loan at Illinois Skilled Nursing Facility

Cambridge Realty Capital Companies returned to Glenview, Illinois to retire the original bridge loan it provided for a 144-bed skilled nursing facility with a HUD refinance. The previous financing, consisting of a $20 million bridge loan and a $1 million asset-based loan, was provided in November 2017 to an Illinois LLC to acquire the facility, […]