Oxford Reports Q1 Financing Activity
Oxford Finance’s Healthcare Real Estate Group closed over $280 million of transactions in the first quarter of 2022, providing credit facilities ranging from $5 million to over $110 million. Its recent closings included: An $80.7 million term loan along with a $8.5 million revolving line of credit to finance the acquisition of four skilled nursing, assisted living and independent living properties. A $70 million term loan to refinance seven skilled nursing facilities and five assisted living communities containing 1,198 licensed beds/units in Ohio and Pennsylvania. A $115.5 million term loan and $9 million revolving line of credit to finance the acquisition of seven skilled... Read More »
CFG Announces Healthy Q1 Activity
Capital Funding Group (CFG) announced a productive first quarter with $840 million in financings. The transactions comprised 10 bridge loans and 11 HUD loans for CFG’s long-term care and assisted living industry clients, plus 13 bridge loans for the company’s multifamily industry clients, nationwide. Among other deals closed in the first quarter of 2022, CFG executed: $316.9 million bridge loan for the refinancing of a nationwide skilled nursing facility portfolio $18.8 million HUD loan for a 152-bed skilled nursing facility in Florida $7.9 million HUD loan for a 154-bed assisted living facility in Massachusetts $12.5 million bridge loan for the acquisition of... Read More »
M&T Realty Capital Finances Northeast Portfolio Acquisition
M&T Realty Capital Corporation recently announced that it provided $51.579 million of Fannie Mae financing for the acquisition of a two-property portfolio with 225 units located in the Hartford, Connecticut MSA. The 10-year floating rate loans were structured with three years of interest only followed by 30 years of amortization. The communities have independent living, assisted living and memory care units and were built in the past five to seven years. The communities were built and operated by Everbrook Senior Living, which joined with White Oak Healthcare REIT in a joint venture to acquire the communities, with Everbrook retaining a small minority position in the... Read More »
Owner/Operator Refinances Community with Fannie Mae
HJ Sims recently refinanced a newly built senior living community in the Mountain West with a Fannie Mae loan. An owner/operator/developer with 25 communities in its portfolio located across the West operates the assisted living/memory care community. Sims acted as financial advisor and took advantage of a short-term dip in interest rates to secure an attractive, fixed interest rate before the property was considered fully stabilized. The non-recourse loan was also structured at 70% loan-to-value with a 12-year term versus the standard 10-year term, which provides additional flexibility for the borrower in pushing out any need to refinance or exit the investment. Plus, there are two... Read More »
Lument Refinances South Carolina Construction Loan
Lease-up did not go according to plan for an assisted living/memory care community that opened during the pandemic in Charleston, South Carolina, but ownership was able to refinance its construction debt with the help of Lument. Kevin Oakley and Steve McGee led the closing, which included a $24.5 million bridge loan placed with a national bank. It came with a floating interest rate, five-year term, 25-year amortization and 18 months of interest only. The capital structure also included an $11.5 million mezzanine loan from an asset management firm. A regional owner/operator with a large portfolio in the Southeast was the borrower. With its construction loan approaching maturity, they... Read More »Schedule a demo
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