Ziegler Arranges Bank Bonds for CCRC Expansion Project
Ziegler, a national boutique investment bank, closed $76.0 million of Series 2023 bank bonds for Brazos Presbyterian Homes, Inc. (BPH) to fund an expansion of the company’s community in Austin, Texas, called Longhorn Village. In addition, the bonds refinanced a portion of the outstanding Series 2013B bonds and paid costs of issuance. The Series 2023 bonds are tax-exempt, draw-down bonds supported by a three-bank syndicate comprised of Amegy Bank, Hancock Whitney and Trustmark. Founded in 1960, BPH is a not-for-profit corporation that owns and operates three CCRCs in Texas: Brazos Towers at Bayou Manor, The Hallmark and the aforementioned Longhorn Village. The expansion project consists of... Read More »
New England AL Portfolio Secures HUD Refinance
Walker & Dunlop closed a $46 million HUD refinance of Terrace Portfolio, a group of four affordable assisted living communities in Vermont and New Hampshire. Frank Cassidy led the Senior Housing Finance team in the transaction, which took out a bridge loan that the Walker & Dunlop team previously arranged in December 2020 to facilitate a partner buyout and re-leveraging of the portfolio. The bridge loan was structured as eligible debt in anticipation of the HUD takeout. The portfolio includes Wheelock Terrace, a 70-unit assisted living community located within 15 miles of two hospitals in Hanover, New Hampshire, and Windham Terrace, a 71-unit assisted living community in... Read More »
Bridgewood Property Company Refinances Onion Creek Community
CBRE National Senior Housing refinanced Village on the Park Onion Creek, a Class-A senior housing community located in Austin, Texas, on behalf of Bridgewood Property Company. Aron Will, Tim Root and Michael Cregan arranged the $18.24 million loan through CBRE’s Freddie Mac Optigo lending platform. The loan featured a 10-year term and floating interest rate, with five years of interest only. The community will continue to be operated by Bridgewood’s wholly-owned management platform, The Aspenwood Company. Located in the established neighborhood of Onion Creek, the 124-unit, majority-independent living campus sits on nine acres south of downtown Austin. There are single-story apartments... Read More »
Alliance Health Refinances SNF through Lument
Lument closed a $15 million HUD loan to refinance Alliance Health at West Acres, a 130-bed skilled nursing facility in Brockton, Massachusetts. Aaron Becker, head of seniors housing and healthcare production at Lument, led the transaction. The facility was substantially renovated in 2017 using bank debt with recourse, which the HUD loan effectively replaces as non-recourse permanent debt. It comes with a 35-year term and a low, fixed interest rate. Alliance Health at West Acres was originally built in 1965 and consists of one two-story building featuring 116 semi-private beds and 14 private beds. Its not-for-profit owner, Alliance Health, owns and operates seven communities consisting of... Read More »
Meridian Capital Group’s February Transaction Haul
Meridian Capital Group’s Senior Housing and Healthcare Team closed $689 million in transaction volume over the month of February for a combination of 35 facilities in nine states, following a stellar year in 2022 when they closed more than $6 billion of volume. These transactions were negotiated by Meridian’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson. The team’s recent closings include four acquisition loans for a portfolio of 25 skilled nursing facilities to four separate operators, totaling 2,844 beds. These include $244.6 million in senior financing from two commercial banks and one finance company along with an $18 million AR line for 12 skilled... Read More »Schedule a demo
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