CCRC Secures Funding for Capital Improvements
Ziegler successfully closed the $47.9 million Series 2025 bonds for Bishop Gadsden Episcopal Retirement Community. Ziegler has had a relationship with Bishop Gadsden for more than 20 years. Bishop Gadsden owns and operates a not-for-profit CCRC on James Island in Charleston, South Carolina. Founded in 1850, Bishop Gadsden provided housing for seniors on the peninsula of Charleston but moved to its current location in 1987 on land donated by St. James Episcopal Church. Over the years, the community has grown to include a campus of 125 acres consisting of 283 independent living units, 79 assisted living units, 32 memory care units and 100 skilled nursing beds (32 of which are... Read More »Regional Owner/Operator Secures Acquisition Financing
Andrew Lanzaro of Berkadia Seniors Housing & Healthcare arranged a $24.75 million bridge financing for the acquisition of a 140 unit seniors housing community in Ocean Springs, Mississippi, on behalf of a Memphis-based repeat client. The purchase represented the buyer’s 10th community in Mississippi and was funded with 1031 exchange equity. The bridge loan was sized to 75% of the purchase price and features a 24-month, interest-only term with one six-month extension option. Berkadia intends to refinance the community with a HUD 232/223(f) loan. The regional owner/operator buyer paid $33 million, or $235,700 per unit, for the community. Built in phases from 2019 to... Read More »
CCRC Lands Construction Financing
Ziegler announced the closing of The Moorings of Arlington Heights’ $162.86 million Series 2025 bonds issued through the Illinois Finance Authority. The Moorings of Arlington Heights (The Moorings) is a CCRC situated on a 45-acre campus in Arlington Heights, Illinois. The community consists of 264 independent living apartments and villas, 73 assisted living apartments, 20 memory care assisted living apartments, 57 skilled nursing and rehab beds, and 39 intermediate and skilled memory care suites. The Moorings is an affiliate of Presbyterian Living, an Illinois not-for-profit organization based in Skokie, Illinois. Presbyterian Living’s portfolio features four communities and... Read More »
Bain Capital and Capitol Seniors Housing Refinance Near Manhattan
JLL Capital Markets announced that it arranged a $48 million refinancing for two Class-A seniors housing communities in New York and New Jersey. JLL’s Seniors Housing Debt Advisory team worked on behalf of the borrower, Bain Capital Real Estate and Capitol Seniors Housing, to place the three-year, floating-rate loan with a large regional bank. The Chelsea at New City was built in 2021 and consists of 80 assisted living, memory care and respite care units. On-site amenities include restaurant-inspired meals, beauty/barber salon, sports lounge, health and wellness programs, daily activities calendar, computer lab, movie theater, transportation services and more. The... Read More »
Private Investor and Operator Close Refinance
CBRE National Senior Housing arranged a refinancing for Meadowbrook on behalf of a joint venture between Harrison Street Asset Management and Dial Senior Living. Aron Will and Tim Root arranged the financing, originating a four-year floating-rate loan. Situated near downtown Kansas City in Prairie Village, Kansas, Meadowbrook consists of four stories with a total of 222 units, including independent living, assisted living and memory care. Harrison Street has closed 332 communities totaling more than 43,000 units since 2005. Seniors housing operator Dial Senior Living manages 24 communities across Nebraska, Iowa, Illinois, Missouri, Kansas and Colorado. The... Read More »Schedule a demo
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