Class-A Active Adult Community Secures Refinance
JLL Capital Markets arranged the refinancing for Connery on Providence, a newly built 200-unit active adult community in Charlotte, North Carolina. JLL represented Proffitt Dixon Partners in securing the loan through New York Life Insurance Company. Connery on Providence is a Class-A 55+ rental community that occupies a 12.75-acre infill site. Completed in 2023, it features one- and two-bedroom residences across four three-story buildings. Property amenities include pickleball courts, a saltwater pool, a wellness and fitness center, spa facilities and concierge services. The community also offers a movie screening lounge, an overnight guest suite, demonstration kitchen and dog spa.... Read More »
Community Trades Hands and Secures Freddie Mac Financing
Berkadia announced the sale and financing of Appletree Court, a 118-unit assisted living and memory care community in Richardson, Texas, in the Dallas MSA. The building was built in 1999 and underwent renovations in 2018 and 2023. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare closed the sale on behalf of the seller, a joint venture between Marquee Capital (a Milwaukee-based family office affiliate of Marcus Investments) and Winterpast Capital Partners (a Nashville-based real estate investment company). The community will continue to be operated by Vitality Senior Living, Winterpast’s operating partner. Austin Sacco, Steve Muth,... Read More »
October Kicks Off with Multiple Financings
VIUM Capital announced a slew of closings at the start of October, ranging from HUD refinances to acquisition loans. The largest was a $72 million bride loan that refinanced four skilled nursing facilities in Pennsylvania totaling 525 beds. Proceeds will be used to take out senior debt and senior mezzanine debt. The facility will be structured as an initial advance of $58.75 million with earnouts totaling $13.25 million. Both the sponsor and the operator are recurring clients of VIUM. For the purchase of Eden Heights, a 30-year-old, 120-unit assisted living/memory care community in upstate New York, VIUM arranged a $7.95 million loan plus earnouts that could reach $5.7 million. The... Read More »
Newmark Negotiates Several Large Financings
Sarah Anderson of Newmark has closed some notable financing transactions in the last couple of months, in addition to arranging acquisition financing for numerous deals handled by the Newmark investment sales team. One of the closings was for Vivante at Turtle Creek, a to-be-built seniors housing community on the prestigious Turtle Creek Boulevard in Dallas, Texas. Set on 1.37 acres and rising 20 stories, the property will be one of the most luxurious seniors housing communities in the country. It will feature 193 total units, with 164 assisted living and 29 memory care units ranging in size from 900 to 3,000 square feet. There are also high-end finishes and unique amenities, such as a... Read More »
Funding Arranged for Skilled Nursing Clients
MONTICELLOAM, LLC, a specialized multifamily and seniors housing bridge lending platform, announced a couple of financings for skilled nursing clients in New England and North Carolina. First, for eight skilled nursing facilities in Massachusetts and Rhode Island, the firm closed a $70 million senior bridge loan with a 24-month initial term. It will be used by the sponsor, a returning MONTICELLOAM client and established operator across the Northeast, to refinance the existing debt on the portfolio, comprising more than 700 licensed beds. MONTICELLOAM and firm affiliates also funded $47.15 million in total bridge and working capital financing for three skilled nursing facilities... Read More »Schedule a demo
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