Ziegler’s Florida Financing
Chicago-based specialty investment bank Ziegler announced the closing of $30 million in bonds for Life Care Ponte Vedra, Inc., d/b/a Vicar’s Landing, to help finance a Phase II expansion. Built in 1983, the community comprises 227 independent living units, 38 assisted living units and 60 skilled nursing beds (30 Medicare certified) on 24.3 acres within Sawgrass, a 4,800-acre private resort and residential community in Ponte Vedra Beach (Jacksonville MSA) that includes the TPC Sawgrass golf course. Vicar’s Landing is currently undergoing a multi-phased expansion less than one mile from its current campus, known as Vicar’s Landing at Oak Bridge. The project involves the acquisition, site... Read More »Georgia Campus Funds Renovation Project
Bellwether Enterprise Real Estate Capital, a national commercial and multifamily mortgage banking company, announced it has closed a $23.9 million loan to finance the renovation of Jewish Tower and Zaban Towers in Atlanta, Georgia. Built in the 1970s, the communities have 200 units and 60 units, respectively. The affordable independent living communities sit on 10.3 acres and are connected through a skilled nursing facility, William Breman Jewish Home. The borrower, The Jewish Home Tower Inc., will finance the renovations with a HUD 221(d)4 sub-rehab loan, originated by Jeff Mion of BWE’s Duluth, Georgia, office. The project includes updates and improvements to handicap accessibility, a... Read More »Upscale Utah Community Refinances Through Freddie Mac
KeyBank Real Estate Capital announced that it has secured a $68.3 million permanent loan through Freddie Mac for a seniors housing property in Utah. The Woodbury Corporation, Colmena Group, and Western States Lodging are refinancing the newly constructed Legacy Village of Sugar House in Salt Lake City. Set within the master-planned Sugar House neighborhood, the 10-story luxury senior housing property features independent living, assisted living and memory care units. There is also retail and commercial parking space, and the community offers mountain views from every residential floor. Morgin Morris of KeyBank structured the 10-year, fixed-rate loan with an initial five-year period of... Read More »VIUM Capital’s Active August
VIUM Capital announced a plethora of transactions in the month of August, totaling approximately $200 million across six financings. The firm first closed a bridge acquisition loan for a pair of skilled nursing facilities in Arkansas. The loan totaled $19.9 million. VIUM next closed a bridge refinance with an earn-out structure for a 50-bed assisted living community in the state of Florida. Arranged for 428 Healthcare, which wanted to take equity out of a well-performing asset that it had purchased in 2019, the loan totaled $7.7 million ($3.7 million of initial funding with $4 million in earn-outs). After a two-year seasoning process, the loan will be submitted to HUD. To close out the... Read More »MidCap Financial Closes Acquisition Loan
MidCap Financial recently closed a $37.8 million floating rate first mortgage that funded the purchase of a 223-uint retirement community. Located in ChampionsGate, Florida, near Orlando, the community has 114 independent living units, 73 assisted living units and 36 memory care units. The loan amount comes to $169,300 per unit. The transaction was funded by entities managed by Fortress Investment Group, and was arranged by Alanna Ellis of Jones Lang LaSalle on behalf of Fortress. The $37.8 million loan amount was used for the acquisition as well as for future capital improvements. The community, The Glades at ChampionsGate, will be operated by Watermark Retirement... Read More »Schedule a demo
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