Walker & Dunlop Arranges HUD Refinances
Walker & Dunlop announced that it has structured $57.2 million in HUD financing for three skilled nursing facilities in Illinois. The three facilities were Avantara Park Ridge in Park Ridge, Moraine Court Supportive Living in Bridgeview, and Aperion Care Elgin in Elgin. The 154-bed Avantara Park Ridge received a $15.6 million loan, and Moraine Court, with 185 supportive living beds, received the largest loan totaling $28.7 million. Lastly, the 101-bed Aperion Care secured a $13.3 million loan. Josh Rosen of Walker & Dunlop led the transactions which utilized the LEAN 232/223(f) for the refinance of two properties and the 232/223(a)(7) program for the other. But the borrower was not... Read More »Berkadia Provides Pacific Northwest Financing
Berkadia Seniors Housing & Healthcare announced a combined $48 million in financing for three seniors housing communities in the Pacific Northwest. First, in Washington, Berkadia refinanced a 105-unit assisted living community through Freddie Mac. The borrower secured a $27 million, sub-60% LTV loan, with a 10-year interest-only term. Built in 2015 in Washington, the community was 92% occupied at the time of the refinancing, performing well during the pandemic. Next was a $16.21 million acquisition bridge loan arranged for an assisted living/memory care community in Washington. Berkadia provided the loan plus funding for capex and closing costs through its proprietary lending program.... Read More »CFG Provides Simi Valley Refinance
Capital Funding Group (CFG) announced that it provided a $40 million loan to refinance an assisted living/memory care community in Simi Valley, California, with Meridian Capital Group arranging the transaction. Griffin Living, a large privately held real estate developer, obtained the loan, which repaid an existing construction loan and provided a return of capital to the owners while the community was still in lease-up. Opened in February 2022, the Class A community has 75 assisted living and 27 memory care units, and was over 50% preleased. This was the second financing CFG has executed for Griffin Living’s California community portfolio. In June 2022, CFG also closed a $32.9 million... Read More »Greystone Provides $47 million in HUD Financing
Greystone has provided a total of $47 million in HUD financing for five skilled nursing facilities in California, Connecticut, North Carolina and Ohio. The debt comprised $8.2 million for a 35-bed skilled nursing facility in San Diego, California, a $10.5 million loan for a 103-bed facility in Dayville, Connecticut, an $8.1 million loan for a 100-bed facility in Norwalk, Ohio, and a $5.75 million loan for a 64-bed skilled nursing facility in Fremont, Ohio. Lastly, Greystone provided a $15.1 million loan for a 111-bed facility in Durham, North Carolina. The properties are all receiving the same non-recourse loans with terms of either 30 or 35 years, plus a low rate. Fred Levine of Greystone... Read More »Northmarq Refinances Croton-on-Hudson Community
Northmarq has successfully completed a $22 million refinance of a seniors housing property in Croton-on-Hudson, New York. Springvale Apartments is an active adult community that consists of 31 buildings and a total of 524 units on 35 acres overlooking the Hudson River. The property was built between 1956 and 1959 and has a handful of amenities including a library, exercise studio and game room. Northmarq arranged the permanent fixed-rate loan for the borrower through its in-house Fannie Mae team. The loan was structured with a 10-year term on a 30-year amortization schedule. Robert Ranieri of Northmarq worked on this refinancing. Read More »Schedule a demo
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