Meridian’s Momentum Continues into Q1
Meridian Capital Group’s Senior Housing and Healthcare team closed nearly $1 billion in transaction volume in the first quarter of 2022 for 97 properties in 19 states, following a record year in 2021 where they closed more than $5.5 billion in transaction volume. Ari Adlerstein and Josh Simpson led the team, which included Matt Lesnik, Jesse Rauch, Rafi Sod, David Gottlieb, Jacob Scott and Yuval Hananya. The largest transaction was a $100 million acquisition loan provided by a commercial bank and mezzanine lender for seven skilled nursing facilities comprising 848 beds in Florida. There were several other acquisition loans, including an $80.3 million loan from a finance company for the... Read More »
Ziegler Arranges Bonds and Bank Debt for Wisconsin Provider
Ziegler closed tax-exempt bond financing for Wisconsin Illinois Senior Housing, Inc. (WISH) to refinance its prior debt. The financing is comprised of approximately $22.46 million of bonds directly purchased by BMO Harris Bank, along with a $1.531 million taxable term loan. Proceeds of the bonds and the bank debt will be used to refinance WISH’s outstanding Series 2018B (taxable), 2018C, 2018D, 2019A (taxable), and 2019B bonds in an aggregate amount of approximately $23.5 million. In addition, WISH can cover an associated prepayment penalty, and pay costs of issuance. The Series 2022 bonds were issued through the Wisconsin Health and Educational Facilities Authority. WISH is... Read More »
Bellwether Enterprise Announces Five Transactions
Bellwether Enterprise Real Estate Capital LLC closed five loans to finance nine assisted living and memory care communities in the Northeast, Southeast and Southwest. The loans total $151 million. First, Bridge Investment Group received a $64.8 million Fannie Mae loan for a four-property portfolio, including 422 memory care and assisted living units across the Northeast. Bridge Senior Living is the manager of the communities. BWE also secured a $50 million non-recourse construction loan, from a debt fund, on behalf of Bonaventure, for the development of Aspire Alexandra, a 133-unit independent living community in Alexandria, Virginia. Upon completion, Senior Lifestyle Corp. will manage... Read More »
Lument Announces HUD Deal
Lument announced the closing of an $18.9 million HUD refinance for The Guilford House, a 96-bed assisted living and skilled nursing facility in Guilford, Connecticut. The transaction refinances a blended-rate loan from 2019 provided by Lument to fund an expansion of AL units and services. Aaron Becker, head of seniors housing and healthcare production for Lument, led the transaction. The Guilford House is an individually owned and operated facility managed by the Moffie family, a repeat Lument client with decades of experience in the senior living industry. The Moffies acquired the facility in 2002, when the original building was an obsolete 60-bed SNF that required significant... Read More »
Northmarq Secures JV Equity and Debt for Construction Projects
Northmarq has secured $50 million in joint venture equity for a four-property seniors housing development pipeline in Minnesota and Colorado. The equity was procured on behalf of the developer, Minneapolis-based United Properties, and its private equity group JV partner. The four communities include Amira Bloomington, a 133-unit active adult community in Bloomington, MN, Amira Minnetonka, a 186-unit active adult community in Minnetonka, MN, Amira Roseville, a 95-unit active adult community in Roseville, MN, and Amira Choice Arvada, a 120-unit independent living, assisted living and memory care community in Arvada, Colorado. All four properties are in various stages of construction and... Read More »Schedule a demo
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