Forbright Bank’s H1 Activity
Forbright Bank reported its activity for the first half of the year from its healthcare and HUD lending teams, announcing more than $500 million in loans closed for acquisitions, recapitalizations, working capital, and HUD financings for healthcare providers across the country. One of the largest transactions was a $60 million revolving loan to finance working capital for 49 skilled nursing facilities with over 5,000 beds in Texas. Forbright also participated as a co-lender as part of a larger term loan totaling $45.5 million that supported the recapitalization of 16 seniors housing properties across multiple states. One borrower obtained a $17.9 million term loan from Forbright to... Read More »
Large SNF Portfolio Secures Financing
MONTICELLOAM, LLC announced the closing of $218.3 million in combined bridge, mezzanine, and working capital financing for 18 skilled nursing facilities across Kentucky. The transaction includes a $179.3 million senior bridge loan and a $29 million mezzanine loan, which the sponsor plans to use to restructure and upsize the existing debt on the portfolio, originally financed by MONTICELLOAM in May 2024. The $10 million working capital line of credit will be used to cover the day-to-day operational needs of over 1,500 skilled nursing beds across the state. Read More »
Greystone Provides Bridge Loan for Affordable Seniors Community
Greystone provided a $40 million bridge loan to acquire and rehab a seniors housing community in The Bronx, New York. The financing was originated by Senior Managing Director Eric Rosenstock and Executive Vice President Jeff Englund on behalf of a joint venture between Scott Jaffee of Metropolitan Realty Group and Leo Friedman of Citadel Care Centers. Built in 1969, Kittay House comprises 295 affordable seniors units with social, recreational, and educational programs on-site as well as meals, housekeeping and easy access to healthcare and supportive services. Greystone’s interest-only non-recourse bridge loan carries a 24-month term with two six-month extension options. Read More »
Lument Finalizes Freddie Mac Construction Loan
Lument announced the closing of a $33.6 million Freddie Mac loan to facilitate the construction of The Culbreath, a 364-unit affordable seniors housing community in Dallas, on behalf of DHA Housing Solutions of North Texas (DHA) and Volunteers of American National Services (VOANS). To finance the new construction project, which has a total cost of $96.7 million, Lument Securities provided bond underwriting services for $45.6 million in tax-exempt cash collateralized bonds while Lument Real Estate Capital structured the $33.6 million Freddie Mac tax-exempt loan to serve as permanent financing. Senior Managing Director Tracy Peters and Director Dale Giffey led the transaction for Lument.... Read More »
Ziegler Closes Tax-Exempt Bond Issue for Florida Not-For-Profit Corporation
Ziegler announced the successful closing of a $25 million tax-exempt bond issue for Orlando Senior Health Network. The Series 2025 bonds were issued through the Florida Local Government Finance Commission. This marks the third transaction Ziegler has completed for OSHN over the past decade. Orlando Lutheran Towers, Inc., doing business as Orlando Senior Health Network, is a Florida not-for-profit corporation that owns and operates a Type-B CCRC, Orlando Lutheran Towers. Built in 1980, the community features 184 independent living units in one building (the Fountains), 81 assisted living units in another building (Windsor Place), and 168 skilled nursing beds on 4.5 acres in downtown... Read More »Schedule a demo
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