Lument Refinances Two Oklahoma SNFs
Lument closed $16.9 million in HUD financing for two skilled nursing facilities in Oklahoma. The two skilled nursing facilities combine for a total of 266 beds. One was built in 2006, with an addition completed in 2010, while the larger facility was built in 1953 and renovated in 1967, 1985 and 2018. Bill Wilson, managing director at Lument, arranged the loans, which were issued with 35-year amortizations and fixed interest rates. They replaced existing variable-rate, personally guaranteed commercial bank debt and also reimbursed nearly $2 million of the borrower’s previous capital expenditures. Read More »
Midcap Financial Closes Loan on a Seniors Housing Portfolio
MidCap Financial announced the closing of a transaction with a joint venture between NexCore Group and an affiliate of Heitman LLC. The floating-rate first mortgage loan facilitated the recapitalization of six seniors housing communities totaling 821 independent living, assisted living and memory care units across the southeast. All of the communities are located in Florida. The operator of the communities will be NexCore’s seniors housing development and management division, Experience Senior Living. MidCap Financial’s loan is structured to both facilitate the recapitalization of the communities and provide future funding to complete construction of one of the... Read More »
Walker & Dunlop Arranges Ohio Refinancing
Walker & Dunlop arranged a $10.9 million HUD 232/223(f) refinance of a skilled nursing facility in Marysville, Ohio (Columbus MSA). Built in 1967, Monarch Skilled Nursing & Rehab comprises 75 units and recently underwent a rehabilitation of the existing units in addition to adding assisted living units to the facility. The refinancing was arranged on behalf of Janet Harris and Holland Management. Frank Cassidy of Walker & Dunlop handled this transaction. Read More »
White Oak Healthcare Partners Closes Two Transactions
White Oak Healthcare Partners, a subsidiary of White Oak Healthcare Finance, secured a $32.8 million financing for the acquisition of a skilled nursing facility in Southern California. A private investment firm acquired the facility, which is triple-net leased to an operator with experience in the state of California. The three-year, variable-rate loan came with two one-year extension options and was sized to HUD guidelines. Ross Holland and Joe Munhall originated the transaction. White Oak Healthcare Partners also executed a financing of just over $19 million for the acquisition of another skilled nursing facility in California for an owner/operator with significant experience in the... Read More »
Live Oak Bank Closes Refinance in Oklahoma City
Live Oak Bank announced it has closed a $13 million refinance loan for Oklahoma City, Oklahoma-based Mansions Senior Living. The financing supported the refinance of existing debt for a 94-unit assisted living and memory care community in Lawrenceville, Georgia, which originally opened in 2019. The property was still in lease-up when the COVID-19 pandemic began, and the subject loan will allow additional time for the property to complete that lease-up. Live Oak Bank’s Seniors Housing and Healthcare Real Estate lending platform provided the financing for this transaction. Read More »Schedule a demo
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