Skilled Nursing Portfolio Secures Funds
MONTICELLOAM, LLC announced that the firm, along with firm affiliates, funded $48.10 million in combined bridge and working capital funding for a three-facility skilled nursing portfolio in North Carolina. The transaction included a $45.6 million bridge financing and a $2.5 million working capital line of credit. The borrower, a returning client, will use loan proceeds to refinance a 300+ bed skilled nursing portfolio. Read More »
Autumn Lake Healthcare Acquires Maryland SNFs
First Citizens Bank’s Healthcare Finance business provided $338 million in financing to affiliates of Autumn Lake Healthcare for the acquisition of 12 Maryland skilled nursing facilities with over 1,500 beds. Based in Howell, New Jersey, Autumn Lake Healthcare’s portfolio includes 66 skilled nursing facilities totaling more than 8,200 beds in Connecticut, Maryland, New Jersey, Wisconsin and West Virginia. The Maryland Commission released a notice detailing the transfer of the real property and bed rights of the following 12 facilities: LG-OHI Frederick LLC, d/b/a Autumn Lake Healthcare at Ballenger Creek LG-OHI Clinton, LLC d/b/a Autumn Lake Healthcare at Bradford Oaks... Read More »
Central Florida Portfolio Secures Financing
Grace Hill Capital, a seniors housing capital advisory firm founded by Adam Shealy, closed a refinance and recapitalization of a four-community independent living, assisted living and memory care portfolio in Central Florida. The portfolio comprises five buildings totaling 257 units, operated by a regional provider with a proven record of performance and resident care. The new five-year, fixed-rate loan totaled $29.84 million. It came with an interest rate of 6.25%, 12 months of interest-only payments and a 70% loan-to-value ratio, providing proceeds to buy out existing limited partners, reduce the cost of capital, and enhance ownership’s long-term flexibility. Grace Hill Capital... Read More »
CCRC Enters Phase Three of Master Plan
Ziegler announced the successful closing of Friendship Village of Tempe’s $107.525 million Series 2025AB bonds through the Industrial Development Authority of the City of Tempe, Arizona. Tempe Life Care Village, Inc. owns and operates a CCRC known as Friendship Village of Tempe (FVT) in Tempe, Arizona. FVT consists of a 536-unit retirement center, a 128-bed skilled nursing center, a 67-unit assisted living building, 24 memory care beds and a 14-bed hospice unit in the Health Center that is leased to a hospice provider. The bonds will be used to fund Phase Three of the corporation’s campus master plan. Phase Three is a new five-story building known as the Ironwood building, with 69... Read More »
Southern California Communities Get New Owner
Berkadia handled the sale and financing of two seniors housing communities in Southern California. The transaction included an 84-unit assisted living and memory care community in the San Diego suburbs and a 72-unit memory care community in the Los Angeles suburbs. These were older vintage properties with some Medicaid census but were very strong performers in the market, with an average occupancy rate of 90.5%. Managing Directors Mike Garbers, Cody Tremper, Ross Sanders and Dave Fasano of Berkadia Seniors Housing & Healthcare closed the sale on behalf of a Southern California-based private owner. Managing Directors Ed Williams and Steve Muth of Berkadia Seniors Housing &... Read More »Schedule a demo
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