Developer Secures Construction Financing
JLL Capital Markets arranged a $47 million construction financing for The Arbella at Blue Hills, a 164-unit, active adult community to be developed in Bloomfield, Connecticut. JLL worked on behalf of the developer, The United Group of Companies, Inc. (United Group) to secure the construction loan through Liberty Bank of Middletown, Connecticut. Opening in 2027, the 10.3-acre site will consist of nine residential buildings offering one-bedroom, two-bedroom, two-bedroom-plus-den, and townhome units, including 19 affordable units. Units will feature open floor plans, nine-foot ceilings, stainless steel appliances, granite countertops, walk-in closets, double-sink vanities, full-size... Read More »
Midwest-Based Operator Refinances AL/MC Communities
MONTICELLOAM, LLC, along with firm affiliates, provided a $28.5 million senior bridge financing for two Midwest seniors housing communities. The financing was originated by Karina Davydov, Senior Managing Director, Originations. The sponsor, a Midwest-based operator with a portfolio of over 40 seniors housing and healthcare properties and a returning client, will use loan proceeds to refinance the two assisted living/memory care communities in Wisconsin and Ohio with over 200 units. Read More »
SNF Replaces Existing Financing with New HUD Arrangement
JD Stettin of Carnegie Capital arranged a couple of financings for two skilled nursing facilities in Texas. First, a 94-bed facility in the Wichita Falls market refinanced its existing acquisition financing with a new $8.5 million HUD arrangement. Built in the 1970s, the facility was performing well. It was purchased in December 2024 for $9.35 million, or $99,500 per bed, with a 100% loan-to-purchase-price bridge loan. So, the refinance was arranged within 10 months of acquisition and for 100% of the sponsor’s original purchase price. Stettin also arranged an acquisition loan for a 75-bed SNF in the Lubbock-Levelland market in west Texas. Built in the 1960s, the facility was not performing... Read More »
CIBC Bank’s Recent Skilled Nursing Activity
CIBC Bank USA shared its recent financing activity, totaling more than $100 million. The largest transaction saw the bank provide a $50 million term loan and a $4.0 million working capital revolving line of credit to a regional owner/operator to refinance a skilled nursing facility in northern California. Historical performance was trending positively, with occupancy and operating margins expected to improve further. Fritz Kieckhefer, Kyle Doran and Jon Roh handled the transaction. Kieckhefer, Doran and Ian Cooper then provided a $31 million term loan and a $3.0 million working capital credit line to help an operator exercise its purchase option on two SNFs and refinance a third facility... Read More »
Provident Bank Funds Portfolio Refinance and Recapitalization
Tom Cassidy of Provident Bank’s Healthcare Lending team provided funding to a regional owner/operator in the Southeast. The new client, a family business, secured a $29.84 million portfolio refinance and recapitalization of four stabilized seniors housing communities in Florida. The well-performing portfolio totals more than 250 units across a mix of independent living, assisted living and memory care. The properties are located in close proximity within an extended Central Florida MSA, supporting operational and staffing synergies. At the time of underwriting, occupancy was in the 90s, and no agency staffing was utilized. As part of the recapitalization, the borrower had completed a... Read More »Schedule a demo
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