Five HUD Loans Secured by NewPoint
NewPoint Real Estate Capital closed five HUD loans totaling over $83 million. The loans include a $29 million refinance of a recently acquired 140-bed SNF for an experienced borrower in New York. The facility was built in the early 1970s and underwent a major renovation shortly after the acquisition. NewPoint also refinanced $51 million in conventional debt for three supportive living facilities in Illinois. Those facilities have a combined 360 beds. Two of the facilities were built in the early 2000s, while the third was constructed six years ago. NewPoint finished its activity with a $3.5 million refinance for a 95-bed SNF in Missouri. Read More »Meridian Capital Group Closes Slew of Transactions
Meridian Capital Group’s Senior Housing and Healthcare team closed $580 million in transaction volume over the course of the summer, bringing their year-to-date total to nearly $3 billion in 2022. These transactions were negotiated by Meridian’s Senior Housing and Healthcare platform, led by Ari Adlerstein and Josh Simpson. The recent transactions include a $115.2 million acquisition loan from a commercial bank in addition to a $15 million A/R line for 10 SNFs with 1,112 beds in California, a $69 million loan from a commercial bank in addition to a $2 million A/R line for the acquisition of one facility and the refinance of two facilities totaling 468 skilled nursing beds in New Jersey,... Read More »Cushman & Wakefield Recapitalizes Walnut Creek Community
Cushman & Wakefield announced that they have arranged the recapitalization of Byron Park in Walnut Creek, California on behalf of a joint venture between Kisco Senior Living and an institutional investor. The senior living community comprises 187 units of independent and assisted living and sits on three acres in the greater San Francisco area. It will continue to be managed by Kisco Senior Living, who will maintain operations under the new ownership by an institutional real estate owner. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard handled the transaction. Earlier this month, Kisco Senior Living, in a joint venture with Welltower,... Read More »JLL Refinances ChampionsGate Community
JLL Capital Markets arranged financing for The Glades at ChampionsGate on behalf of Fortress Investment Group. The senior living community comprises 233 units of independent living, assisted living and memory care in the greater Orlando, Florida area. Fortress obtained a four-year, floating-rate non-recourse loan through MidCap Financial Services. Alanna Ellis, Allison Holland, Billy Lichtenstein and Zach Brantley of JLL Capital Markets worked on behalf of the borrower to close the transaction. The property consists of one- and two-bedroom units ranging from 627 to 1,060 square feet. Community amenities include outdoor courtyards and patios, a swimming pool, movie theater, activity room,... Read More »Gantry Arranges Active Adult Refinancing
Gantry arranged $72 million in financing for the refinancing of a four-property active adult community portfolio in Washington State. Transamerica Life Insurance Co. provided the fixed-rate loans in this transaction. The 15-year, fixed-rate loans feature a 30-year amortization period. Built between 2020 and 2022, Norpoint Communities’ portfolio comprises a total of 440 units. There was the 184-unit The Highlands at South Hill in Puyallup, refinanced with a $26 million loan, a 104-unit community in Silverdale refinanced for $25.3 million, the 88-unit Cooper Point Village in Olympia receiving $10 million in financing, and the 64-unit StoneRidge at the Park in Tacoma which got a $10 million... Read More »Schedule a demo
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