CBRE Arranges Freddie Mac Loan Assumption
CBRE recently executed its second financing for the same five-community seniors housing portfolio in Oregon, arranging the assumption of a $55.6 million fixed-rate Freddie Mac loan with an interest rate close to 3.5%. In 2016, CBRE had arranged acquisition financing on behalf of the portfolio’s current seller, but with the debt nearing maturity, the decision to divest was made. Through Freddie Mac’s Optigo lending platform, Aron Will, Adam Mincberg and Michael Cregan of CBRE managed the assumption for the buyer, Arcus Healthcare Partners. Arcus plans on making significant capital improvements across the portfolio. The in-place operator, Frontier Senior Living, has managed these communities... Read More »
Phorcys Partners with SilverPoint on Acquisition
Phorcys Capital Partners made its second acquisition in a month with the purchase of Inspired Living Lewisville in Lewisville, Texas (Dallas MSA). The alternative asset manager made the acquisition in partnership with SilverPoint Senior Living, an operator with six locations in Texas and Oklahoma, including another assisted living/memory care community in the town of Lewisville. Opened in 2018, the community consists of 106 AL and 43 MC units, with 135,000 square feet in three stories. There are also numerous amenities, including a poker room, pool hall, fireplace lounge, piano balcony, tiki bar, fishing pier, dog park and putting greens. It was developed by Florida-based Validus Senior... Read More »
Colliers Secures Construction Loan For Michigan Senior Care Campus
Christopher Fenton, Catherine Eby, Nick Skarich and Kevin McMahon of Colliers Mortgage closed a $19.4 million construction loan for the development of an independent/assisted living and skilled nursing campus in Hudsonville, Michigan. Expected to open in spring 2024, the 107-unit community will feature a combination of studio, one-bedroom and two-bedroom units. Amenities will include a bistro, lounge and large community spaces. The loan comes with a 48-month term with one 12-month extension option. Read More »
Monarch Advisors Releases Two More Closings
Alec Blanc of Monarch Advisors arranged a new loan to fund a partnership buyout for an Indiana CCRC with a total of 197 skilled nursing beds and independent living units. The borrowers, two of four partners, engaged Monarch to source $17.0 million of senior debt for the transaction. Monarch was successful at securing a bridge-to-HUD commitment from a national bank lender. The two-year interest-only loan, priced at SOFR plus 2.85%, fully funded the repurchase of the membership interests of the exiting partners, with the remaining partners rolling over their equity. In addition to the repurchase, proceeds will be used to fund up to $1.3 million of capital expenditures plus closing costs.... Read More »
Meridian Capital Group Ends Summer with a Bang
Meridian Capital Group’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson, closed more than $800 million in transaction volume in August and September 2023 across both investment sales and financings. The highlight was the team’s arranging of acquisition financing from a REIT and finance company for the purchase of EmpRes Healthcare and 28 facilities comprising 2,629 skilled nursing beds and 88 assisted living units in Nevada, Washington, Wyoming, Oregon, Montana, and South Dakota. They also sold a 104-bed assisted living community in Florida for $24.2 million and two assisted living communities comprising 202 beds in California for $22.5 million. On the... Read More »Schedule a demo
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