Berkadia Secures Financing on Behalf of POAH
Berkadia announced the financing and preservation of Jesse Jackson Jr. Senior Housing, a 120-unit affordable seniors housing community in Harvey, Illinois. James Grande secured the $17.6 million low-income housing tax credit equity investment on behalf of the sponsor, Preservation of Affordable Housing. The community consists of two three-story, elevator-serviced buildings that were originally constructed in 2007 (phase II) and 2011 (phase III). The project will consist of 120 one-bedroom units serving seniors aged 62 and above, with 114 of the units set aside for persons whose income is at or below 50% of the area median income. The remaining six units will be set aside for persons... Read More »
Ziegler Handles Financing in Missouri
John Knox Village is a large not-for-profit single-site provider of senior living services headquartered in Lee’s Summit, Missouri. JKV owns/operates a life plan community which, as of December 31, 2023, consisted of 948 marketable independent living units ranging from single-family homes to apartments, assisted living communities consisting of 106 apartments and 76 memory care units, and a skilled nursing center operating 122 beds. Ziegler announced the closing of John Knox Village obligated group’s $42.3 million Series 2024 tax-exempt bonds. The $30.83 million of Series 2024A fixed rate bonds along with the $5.53 million Series 2024B-1 (TEMPS SM-85) and $7.5 million Series 2024B-2... Read More »
SLR Healthcare ABL Provides Financing
SLR Healthcare ABL provided a $3.0 million asset-based revolving credit facility to a skilled nursing operator based in the upper Midwest. The management team has a combined 40 years of long-term care experience. It recently took over the operations of three skilled nursing facilities that total 230 beds in Iowa. Proceeds of the loan were used to provide working capital to support growth initiatives which include development of a memory care unit and expansion of a behavioral health unit. Stacy Allen handled the transaction. No additional details were disclosed. Read More »
BHI Senior Living Secures Financing
Ziegler announced the closing of BHI Senior Living’s $32.0 million Series 2024AB bank loans. BHI is a faith-based not-for-profit organization that owns and operates 10 CCRCs across Indiana, Ohio and Michigan. The Series 2024AB bonds marks BHI’s eighth financing with Ziegler since 2000. BHI will finance two phases of new construction at Hoosier Village in Zionsville, Indiana. Hoosier intends to construct 20 independent living townhomes with 3,200 square feet each in two phases beginning spring 2024 and another in spring 2025 for a total of 40 units. BHI currently has a waitlist with over 400 households seeking an independent living unit in the community. Ziegler conducted a full bank search... Read More »
CFG Secures Bridge-to-HUD Loan for Massachusetts SNF
Capital Funding Group announced the closing of a bridge-to-HUD loan totaling $9.75 million on behalf of a nationally recognized borrower. The loan supports the refinancing of a 123-bed skilled nursing facility in Massachusetts. Tim Eberhardt, Craig Casagrande and Ava Julio handled the transaction. This financing follows CFG’s announcement of the closing of a $36.2 million bridge-to-HUD loan that supported the refinancing of five skilled nursing facilities in North Carolina. The facilities total 522 beds. CFG refinanced an existing loan to include two additional underleveraged facilities on behalf of a nationally recognized borrower. Read More »Schedule a demo
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