Oxford Finance Announces Slew of Term Loans
Oxford Finance’s Healthcare Real Estate Group reported over $347 million of transactions closed over Q2 and Q3 of 2022, bringing the total commitments year to date to over $636 million. Listed below are some highlighted transactions of the two previous quarters. $26.2 million term loan and $3.0 million revolving line of credit to finance the acquisition of three skilled nursing facilities containing 391 beds in Texas for an experienced Texas-based operator. $9.0 million revolving line of credit to finance working capital needs for seven skilled nursing facilities for an expanding California-based operator.$52.0 million term loan in support of a sale/leaseback for 16 skilled... Read More »
CIBC Bank Provides Multiple Financings
CIBC Bank announced it has provided a California lessor with a $17.5 million loan to refinance an assisted living and skilled nursing portfolio. Located in Southern California, the communities consist of 180 assisted living units and 100 skilled nursing beds, and are run by a local operator. With an effective age of 25 years, the properties had historical occupancy around 70%, and the EBITDAR margin was approximately 13%. Matthew Tyler and Neal Netzel handled the financing on behalf of CIBC. CIBC Bank also announced it has provided $39 million ($29 million at closing with a $10 million earn-out) in acquisition financing for a 116-unit assisted living/behavioral health facility in Arizona.... Read More »
Dwight Capital Announces Third Quarter Activity
Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed $192.29 million in seniors housing and healthcare financing during the third quarter of 2022. Dwight provided a $42 million bridge loan to facilitate the acquisition of a three-property SNF portfolio in New Hampshire: Epsom Healthcare Center, Maple Leaf Healthcare Center and Villa Crest Nursing and Retirement Center. The facilities have 387 beds and approximately 195,860 square feet. Josh Sturm originated the transaction. Dwight also financed a $27 million bridge acquisition loan for a portfolio of four assisted living/memory care communities in Jamestown and Frewsburg, New York: Tanglewood Manor, Memory Gardens, The... Read More »
Locus Point Provides Financing
Live Oak Bank and Locust Point Capital closed a $15.2 million loan through an A/B unitranche product for Georgia-based Phoenix Senior Living. The financing will retire the existing construction debt of Retreat at Lady’s Island, a 75-unit assisted living/memory care community in Beaufort, South Carolina. Built in 2018 by Connexion Senior Living, the $10.2 million, or $136,000 per unit, construction project encompasses 55,000 square feet and sits just northeast of Savannah, Georgia. With the transaction, Live Oak Bank was able to expand its relationship with both Phoenix Senior Living and Locust Point Capital. Read More »
Oxford Finance Provides $124 Million Acquisition Loan
Oxford Finance announced the closing of a $124.7 million senior credit facility for the acquisition of four Autumn Lake Healthcare skilled nursing facilities. Located in Burtonsville, Sykesville, Rising Sun and Manchester, the four facilities comprise a total of 520 licensed beds and sold for a combined $142.5 million, or $276,200 per bed. Gideon Orion of Walker & Dunlop handled the sale. Autumn Lake Healthcare maintains a network of independently owned and operated nursing homes and rehabilitative care centers across Connecticut, New Jersey, Maryland, West Virginia, and Wisconsin. The seller, Axis Health, sold two other facilities on the Eastern Shore of Maryland to Key Health... Read More »Schedule a demo
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