CFG Announced H1:22 Transaction Volume
Capital Funding Group announced its transaction totals for the first half of the year, which surpassed $1.8 billion in financing volume. The deals included 55 bridge loans and 13 HUD loans for the firm’s skilled nursing, assisted living and multifamily clients across the country. Over $1 billion of this financing was attributed to its senior care clients. Highlights of the half-year include a $316.9 million bridge loan to refinance a large skilled nursing portfolio and $197.5 million acquisition bridge loan for a 24-facility portfolio in Maryland, Virginia and North Carolina. Next was a $135 million bridge loan arranged for the refinancing and dividend recapitalization of a... Read More »Queen Creek Community Refinances with Fannie Mae
A joint venture between American Care Concepts and private investors refinanced its Queen Creek, Arizona community with the help of JLL Capital Markets. The firm arranged a $10.5 million refinancing for the newly constructed Countryside Living, a 40-unit assisted living and memory care community located just outside of Phoenix. Brad Miner, Alanna Ellis, Martin Mbeteni and Zach Brantley of JLL worked on behalf of the borrower to originate the 10-year, fixed-rate Fannie Mae loan. Also, the loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender. Read More »JLL Refinances Seattle-Area Community
JLL Capital Markets worked on behalf of the borrower, Mirror Lake Village LLC, to secure a $29.5 million refinancing for Mirror Lake Village, a 114-unit, 138-bed senior living community in Federal Way, Washington. The community comprises 30 assisted living units, 66 memory care units and 18 independent living cottages. The combination of balance sheet financing from a regional bank together with retroactive C-Pace provided for full leverage on the reset budget and blended all in rate of 5.21% including 10 years of interest only and 45% of the financing as fixed rate non-recourse. Alanna Ellis of JLL Capital Markets handled the transaction. Read More »Upstate New York Community Seeks HUD Take-Out
One year on from acquiring an assisted living/memory care community in Wellsville, New York, ownership is refinancing its acquisition debt with intent of going to HUD within the next year. Built in 1989 with 89 units and 137 beds, this community was the only licensed seniors housing community in Alleghany County. Occupancy was around 80% before COVID-19 struck the community and caused census to fall to 70%. The seller, a private individual looking to retire and divest his last asset, engaged Senior Living Investment Brokerage to sell the property but was not able to move any new admissions in until March 2021 because of the state-mandated admission freeze. COVID caused trailing-12-month... Read More »Cushman & Wakefield Refinances Stamford, Connecticut Community
Cushman & Wakefield announced the refinancing of a newly developed assisted living/memory care community in Stamford, Connecticut on behalf of Virtus and LCB Senior Living, LLC. Richard Swartz, Jay Wagner, Jim Dooley and Joseph Carbone represented the borrower in the transaction, which allowed them to repay the original construction loan and provided four years of interest only during the stabilization period. The loan was provided by VIUM Capital and its affiliate Merchants Bank of Indiana. In addition, the financing repaid the original $23.268 million construction loan from M&T Bank (originally arranged by Cushman & Wakefield as well) and provided a four-year interest-only... Read More »Schedule a demo
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