CBRE Finances New Senior Housing Construction in North Carolina
The Village on Morehead, a to-be-built, Class-A, 199-unit senior living complex in Charlotte, North Carolina, has secured construction financing courtesy of CBRE Senior Housing’s Aron Will, Austin Sacco and Tim Root. CBRE arranged this loan on behalf of a joint venture between Bridgewood Property Company and Harrison Street. This 12-story independent and assisted living community will be operated by Retirement Center Management (RCM), Bridgewood’s wholly-owned management group. The Carolinas Medical Center, North Carolina’s largest hospital, is located less than a mile from the community. CBRE originated a four-year, floating-rate loan with full term of interest only and... Read More »
Capital Funding Group Closes Big Bridge Financing
Capital Funding Group announced its largest single financing deal in 10 years, closing a bridge-to-HUD loan totaling more than $650 million. The purpose of the loan is not known, nor the properties being financed, but the deal takes CFG’s year-to-date dollar volume to over $1.5 billion of secured loans. Director Craig Casagrande and Senior Associate Andrew Jones originated the transaction for CFG. Read More »
SLIB Sells Two Memory Care Communities in Illinois
Ryan Saul and Vince Viverito of Senior Living Investment Brokerage recently facilitated the $3.75 million sale of Life’s Journey Senior Living of Taylorville and Paris in their respective towns in Illinois. Owned by a publicly-traded REIT, both properties offer memory care services. Built in 2012 with renovations in 2014, the Taylorville location has 25,000 square feet and a 69% occupancy rate over its 46 units. The Paris location, built in 1998, is 9,200 square feet and has an occupancy of 96% across its 23 units. There are a combined 77 beds over 69 units, resulting in a price per unit of around $54,300, which falls below the $191,800 per unit average price for assisted... Read More »
KeyBank Secures Financing For California SNF
Eagle Arc Partners, a healthcare real estate investment firm, received a $10.2 million fixed-rate loan from KeyBank Real Estate Capital through the Federal Housing Authority’s (FHA) 232/223(f) mortgage insurance program to refinance Livermore Healthcare in Livermore, CA. Livermore Healthcare is a 30-unit, 83-bed skilled nursing facility. The property was built in 1966 and received minor improvements in 2019, including new vinyl flooring in various common area rooms and hallways. The loan has a fully amortizing 35-year term and will pay off an existing bridge loan. KeyBank provided the original acquisition financing for Eagle Arc’s acquisition of 35 total skilled nursing... Read More »
VIUM Adds New Hire Amid Flurry of Deals
Two months ago, VIUM Capital announced the hiring of four more experienced bankers, all of whom had worked at Lancaster Pollard (like VIUM’s founders Steve Kennedy and Kass Matt) at one point in time. But their latest addition will come from National Center for Assisted Living. NCAL Executive Director Scott Tittle announced he will leave the organization after six years and will join VIUM in September. He is joining as a Managing Director and the firm’s first Head of Government Relations and External Affairs. As a licensed attorney, Mr. Tittle brings over 15 years of experience helping assisted living and skilled nursing operators with their regulatory, reimbursement and advocacy needs.... Read More »Schedule a demo
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