Ziegler and M&T Team Up on Freddie Mac Refinance
Ziegler, a specialty investment bank, in partnership with M&T Realty Capital Corporation, announced its role as financial advisor in a $105.6 million Freddie Mac refinancing on behalf of The Ridge Senior Living to underwrite the existing debt on The Ridge Pinehurst, its high-end senior living community community in Lakewood, Colorado. The 371-unit community began opening in phases in September 2020 and features independent living, assisted living and memory care services. The original 10-year, fixed-rate loan was structured with five years of interest-only payments, followed by 30-year amortization. The refinance provided The Ridge with a long-term fixed-rate loan to replace the... Read More »
CFG Closes Its Largest Transaction of 2023
Capital Funding Group announced its largest transaction of 2023, so far, with the closing of $207 million in financing to support the refinancing of ten skilled nursing facilities. The facilities, which are located in Maryland, Virginia and North Carolina, consist of more than 1,200 beds. The deal was closed on behalf of affiliates of The Portopiccolo Group, a New Jersey-based family office with a large portfolio of skilled nursing facilities in the country. Capital Funding Group Managing Director, Real Estate Finance Tim Eberhardt and Senior Associate Ava Julio originated the transaction for the company, which allowed for an equity recapture at closing, a transition to third-party... Read More »
CBRE Helps Finance Chicagoland Acquisition
Focus Healthcare Partners acquired a large senior living community near Chicago, Illinois, thanks to a bank loan arranged by CBRE. The target, Lexington Square of Elmhurst, was built in 1990 about 20 miles west of downtown Chicago. It features a total of 348 units of independent living and assisted living in an entrance-fee CCRC model. However, after rebranding the community as The Roosevelt at Salt Creek, Focus Healthcare Partners will execute a significant capital improvement plan and convert the community to a rental model. The community will also feature a fitness center, swimming pool, billiards lounge and barber, among other amenities. Aron Will, Matt Kuronen and Michael Cregan... Read More »
Lument Arranges Two Short-Term Debt Transactions
Lument announced a couple of financings involving short-term debt, one for an acquisition and one to refinance a stabilizing seniors housing property. First, a long-time operator of a 150-bed skilled nursing facility in Oklahoma City, Oklahoma, was able to take its ownership interest in the facility from 33% to 100% with the help of acquisition financing arranged by Lument. Bill Wilson led the transaction, and Lument’s debt syndications team, led by Steve McGee and Sangjin Na, placed the $10.7 million loan with a community bank. The loan features a five-year term, with a minimum of two years of interest only, 25-year amortization and a fixed interest rate. In addition to funding the... Read More »
Cushman & Wakefield/Greystone JV Announces Latest Refinance
Cushman & Wakefield and Greystone jointly announced the successful refinance of Kōz on Weaver Road, a 100-unit seniors housing community in Snohomish, Washington. Kōz Development, LLC developed the community in 2020 to feature 40 studios, 40 one-bedroom and 20 two-bedroom units in five stories. There are also common spaces on each floor and 130 on-site parking spaces. Cushman & Wakefield served as the exclusive advisor to an affiliate of Kōz Development in arranging approximately $14 million of Fannie Mae financing, which was provided by Greystone. The C&W Equity, Debt & Structured Finance team consisting of Dave Karson, Chris Moyer, Paul Roeter and John Spreitzer... Read More »Schedule a demo
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