Diversified Healthcare Trust Closes Two Mortgage Financings
Diversified Healthcare Trust closed two fixed rate mortgage financings totaling $94.3 million, secured by six seniors housing communities managed by Five Star Senior Living, the operating division of AlerisLife Inc. The financings consist of a $64 million, five-year mortgage loan and a $30.3 million, ten-year Fannie Mae mortgage loan. Proceeds from these loans, together with cash on hand, will be used to repay the remaining $100 million of DHC’s 9.75% senior notes due June 2025. The $64 million loan bears a fixed interest rate of 6.75% and is secured by four communities totaling 1,079 units with an appraised value per unit of approximately $171,000. The Fannie Mae loan bears a fixed... Read More »
Flagstar Bank Finances Two AEW Assets
Matt Huber and Ryan Zyskowski of Flagstar Bank closed two loans for AEW to finance two seniors housing properties in The Villages, Florida. AEW purchased the communities in the fourth quarter of 2024 for an undisclosed cash amount. The deal included Spanish Springs and Buena Vista. Built in 2016, Spanish Springs features 86 units of assisted living and memory care, while Buena Vista (built in 2018) has 224 units of independent living, assisted living and memory care. They were well occupied and stabilized, with Watercrest Senior Living as the operator. Read More »
Green Courte Acquires Active Adult Community
CBRE National Senior Housing acted as the exclusive advisor on the sale and debt placement of 55 Resort at Water Valley, a 120-unit active-adult community in Windsor, Colorado, just north of Denver. John Sweeny and Aron Will represented the seller, while Will and Adam Mincberg originated a 10-year fixed-rate loan through CBRE’s Fannie Mae DUS Lending Platform on behalf of the Chicago-based private equity buyer. Built in 2019, the community is highly-amenitized and set on a 5.9-acre site. Being rebranded as Eagle’s Peak at Water Valley, it sits within a larger master-planned community, Water Valley, which comprises 1,800 single-family and multi-family residential units, as well as... Read More »
Ziegler Works on Financings for Two Not-For-Profits
Ziegler worked on two financings for separate not-for-profits. First, Ziegler closed $39.24 million Series 2025 tax-exempt, fixed rate bonds for Bethesda Senior Living Communities (BSLC). The bonds were issued through the Colorado Health Facilities Authority. It has been seven years since its last financing in 2018. BSLC and its parent organization, Bethesda Foundation, own/operate 20 seniors housing communities in Arizona, Colorado, Missouri, Nebraska and Texas. BSLC’s portfolio includes 595 independent living, 1,359 assisted living and 282 memory care units. Bethesda Foundation is a faith-based 501(c)(3) corporation based in Colorado Springs, Colorado. BSLC and Bethesda Foundation... Read More »
CBRE Closes SNF Loan in Utah
Jason Stein and DJ Elefant of CBRE’s Debt & Structured Finance platform closed an acquisition loan for a skilled nursing facility in Utah. CBRE worked with a local Utah lender to arrange a $6.426 million loan that featured a 10-year term and a competitive 5.72% interest rate with no prepayment penalty. The loan came out to 75% LTC. Read More »Schedule a demo
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