Alta Senior Living Obtains Refinance for Tampa Asset
Kristen Ahrens and Pat Maloney of Blueprint facilitated the refinance of The Legacy at Highwoods Preserve. Built in 2015, the 68,281-square-foot building comprises 60 assisted living and 22 memory care units on 9.9 acres in Tampa, Florida. The borrower is a well-established owner/operator with a presence in Florida. Blueprint Capital Markets ran a process to identify viable debt options aligned with the ownership structure and need for non-recourse financing. Ultimately, in conjunction with KeyBank Commercial Mortgage Group, Blueprint arranged a six-year, fixed-rate loan with a prominent life insurance company that allowed supplemental funding on top of the initial loan. Blueprint, in... Read More »
Washington State AL Community Lands HUD Financing
Berkadia arranged 232/223f HUD financing for a 200+ bed assisted living community in Washington State, totaling $26.8 million. In September, Managing Directors Austin Sacco and Steve Muth, along with Senior Director Garrett Sacco of Berkadia Seniors Housing & Healthcare, secured the financing for a repeat Berkadia client, a Pacific Northwest-based sponsor. This HUD loan retires an existing Berkadia bridge loan. The sponsor, which has operated the community since 2017, was able to transition from bridge-to-HUD financing, paying off existing bank debt and capturing equity built from their operations. Read More »
CBRE Originates Financing for Joint Venture
CBRE National Senior Housing arranged the financing for Clearwater at The Heights on behalf of a joint venture between Cerberus, Hines and Clearwater Living. Aron Will, Vice Chairman of CBRE National Senior Housing, and Tim Root, Senior Vice President of CBRE National Senior Housing, originated a three-year, floating-rate bridge loan with full term of interest only through a regional bank. Opened in 2022, the 220-unit community is in Houston, Texas, with independent living, assisted living and memory care services. Amenities feature a fitness center, art studio, library, custom golf simulator, movie theater, outdoor pool, spa and salon services, and downtown skyline views. The community is... Read More »
CCRC Development Secures Construction Financing
Capital Funding Group closed a $179.8 million construction loan on behalf of Erickson Senior Living. The financing will support the first phase of construction for Emerson Lakes, a CCRC currently under development in the Lakewood Ranch community in Sarasota County, Florida. CFG closed the financing on September 22, 2025. Developed and managed by Erickson Senior Living, phase one of this project will include one community building and three residential buildings with 319 independent living units. Once all project phases are completed, Emerson Lakes will be an 87-acre campus featuring 1,015 IL units and 130 continuum care units. This financing is the second construction loan CFG has executed... Read More »
Ziegler Prices Bonds for Repeat Client
Ziegler announced the pricing of $41.71 million Series 2025A bonds for repeat client Maryfield, Inc. doing business as Pennybyrn. Pennybyrn is a North Carolina not-for-profit corporation incorporated in 1947 by the Congregation of the Poor Servants of the Mother of God, an order of the Roman Catholic Church. Now sponsored by the Roman Catholic Diocese of Charlotte (NC), Pennybyrn owns and operates a CCRC on 72 acres in High Point, North Carolina. Pennybyrn currently operates 222 independent living units (173 apartments and 49 cottages), 48 assisted living units (24 standard care and 24 memory support) and 125 skilled nursing beds (24 rehabilitation and 101 long-term care). Proceeds of the... Read More »Schedule a demo
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