Lument Closes Nearly $1.5 Billion in 2021 Seniors Housing Transactions
Lument announced today that it closed 137 seniors housing and care transactions in 2021 totaling $1.49 billion, a record for the company, representing financings in 31 states. The volume included 18 HUD 232/223(f) transactions totaling $154.4 million, eight HUD 223(a)(7) refinances totaling $114.4 million, two HUD 223(f) refinances totaling $30.5 million, and a new construction loan from HUD for an assisted living community in Illinois. The firm closed deals across the country, with 21 transactions for clients based in Ohio, 17 in Indiana, 12 in Illinois, eight in Virginia, and six each in California, Minnesota and Oklahoma, among others. In all, Lument also originated 92 rate... Read More »
Walker & Dunlop Provide Funds to SNF Portfolios Struggling During COVID
Walker & Dunlop, Inc. announced that it structured a little over $77 million in financing for two skilled nursing portfolios totaling ten properties and 848 units. The Cascades Portfolio, located throughout Utah, totals seven properties and 693 units. The Rollins-Nelson Portfolio includes three properties and 155 units located in Englewood, Long Beach, and Perris, California. Walker & Dunlop’s Kevin Giusti, Brian Neal, and Andrew Westling arranged financing from HUD, a regional bank and a finance company to provide for the Cascades portfolio. For the Rollins-Nelson portfolio, the team refinanced the existing HUD loan, capitalizing on a low interest rate and extending the term... Read More »
BMO Harris Provides $380 Million Credit Facility for Institutional Investor
BMO Harris Bank’s Healthcare Real Estate Finance group announced its role as lead arranger and administrative agent on a portfolio term loan refinancing facility in excess of $380 million for 15 seniors housing communities throughout the United States. The properties are managed by five regional operating partners and include over 1,700 units of independent living, assisted living, and memory care. BMO partnered with Capital One, N.A., which served as joint lead arranger, to form the syndicate for the facility, which will be offered at a floating rate. The properties’ owner is a national senior housing real estate investor. Read More »
NHI Funds Construction for Wisconsin AL/MC Community
Development has slowed, but we all know it has not stopped. One of the main barriers to getting development projects off the ground these days has been securing financing for them, considering the risks of funding a project amid soaring construction costs and an uncertain stabilization period. But certain projects are going ahead, and National Health Investors, Inc. announced that it will fund a $28.5 million construction loan to build The Courtyard of Fitchburg, a 108-unit assisted living/memory care community in Fitchburg, Wisconsin (Madison area). The four-year loan comes with an annual interest rate of 8.5% and two one-year extensions. Plus, NHI has a purchase option on the property... Read More »
Jacksonville Community Refinances
Grandbridge Real Estate Capital arranged $19.5 million in financing for Starling at San Jose, a seniors housing community in Jacksonville. The transaction retired a bridge loan with Grandbridge’s parent company, Truist Bank. Built in 2017, the community features 66 assisted living and 24 memory care units. It was developed by Starling, with Choate Construction serving as the contractor. No other details about the property were disclosed. Richard Thomas and the Grandbridge’s Atlanta-based Seniors Housing and Healthcare Finance team arranged the financing. Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
