Blueprint Facilitates Pacific Northwest Portfolio Sale
Stabilized seniors housing deals have been few and far between in the last year, but Dan Mahoney, Michael Segal and Ben Firestone of Blueprint Healthcare Real Estate Advisors hit the transaction trail to Oregon to sell five well performing assets on behalf of the seller. The portfolio, which consists of 468 units of independent living, assisted living and memory care, was concentrated in mostly tertiary markets in Oregon, with one located near Portland. Built in the late-1980s and early-1990s, the portfolio received modest updates over the last 10 years. However, the portfolio was very profitable, generating approximately $4.8 million in EBITDAR in 2022, which translates to more than... Read More »
Lument Secures Fannie Mae Refinancing
After opening in early 2020, an active adult community recently refinanced through Fannie Mae with the help of Lument. For other seniors housing sectors, trying to lease-up during the pandemic has presented more problems, but active adult, in general, has seen strong occupancy and lease-up rates. So, active adult communities have run into fewer issues when the time comes for an agency refinance. Lument closed a $13.4 million Fannie Mae loan with a 10-year term and four years of interest only. There was also a 30-year amortization period and a fixed interest rate. Tom Dixon of Lument handled this transaction, marking the tenth closing between Lument and the borrower, which has 40 years of... Read More »
Real Estate Developer Acquires Five California Seniors Housing Communities
California-based real estate developer Standard Communities acquired five affordable seniors housing communities and one affordable multi-family community, Villa San Dimas, in Los Angeles County for $122 million, or $300,000 per unit. Standard intends to renovate the communities with planned costs exceeding $8 million. The company will also extend the communities’ affordability by 20 years under new HUD Housing Assistance Payments contracts. Standard partnered with Pacific Southwest Development Corporation, a California-based not-for-profit affordable housing developer and residential service provider, on the deal. The seniors housing communities within this portfolio deal are... Read More »
H2C Securities Refinances Quality Life Services
H2C Securities Inc., a healthcare-focused strategic advisory and investment banking firm, served as the exclusive advisor to Quality Life Services in obtaining a bridge loan to refinance the debt associated with the company’s portfolio of 10 skilled nursing and senior living properties. Quality Life Services’ existing lenders were reducing their exposure to the long-term care sector, requiring the company to refinance its outstanding debt. Working with H2C to evaluate a range of options, the company ultimately elected to execute a bridge-to-HUD loan for the properties, allowing it to retain control and prepare to secure lower cost long-term financing via HUD in the future. Read More »
CFG Arranges Senior and Mezz Debt
A portfolio of senior care facilities in the Pacific Northwest received a debt package consisting of a mezzanine and senior loan. Capital Funding Group first helped the client place senior debt which totaled $78.46 million. Then, CFG closed a $13.84 million mezzanine loan, which supported the refinancing of eleven skilled nursing facilities and one assisted living community. The total financing package amounted to $93.31 million. The facilities are located in Washington, Idaho, and Oregon, and consist of over 1,554 beds. The financing was closed on behalf of a nationally recognized borrower. Capital Funding Group Managing Director, Real Estate Finance Tim Eberhardt and Senior Associate Ava... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
