Greystone Arranges Two Agency Financings
Fred Levine of Greystone arranged a HUD refinance for a skilled nursing facility in Cortlandt, New York. Built in 1984 and featuring 127 beds in 96 units, the facility offers both short- and long-term rehabilitation, along with physician services and complex medical care. Offered therapies include occupational, physical, cardiac, speech, post-surgical orthopedic care, stroke recovery, hip repair/joint replacement recovery, amputee recovery and training, off-site dialysis, bariatric rehabilitation, wound care, and IV antibiotic therapy. The $22.217 million loan came with a low, fixed interest rate and a 35-year term. Matt Miller of Greystone followed that up... Read More »
Cambridge Ends Year With 13 Closings
Cambridge Realty Capital just announced its fourth quarter closings, which numbered 13 transactions valued at $100 million. That brings the firm’s 2020 total activity to 40 closings and $415 million in dollar volume, the second-highest number of annual closings in Cambridge’s history. The 40 properties that were financed were primarily nursing facilities and totaled 5,254 beds or units across several states. The largest deal was a $16.9 million loan closed for a senior care facility in Peru, Illinois, with 94 skilled nursing beds, 68 assisted living units and 36 sheltered care beds. Other highlights include a $9.7 million loan for 164-bed skilled nursing facility in the... Read More »
Meridian Capital Group Closes Out 2020 In Style
To say that Meridian Capital Group had a strong 2020 would be an understatement. Amid all sorts of obstacles that were only compounded by COVID-19 and widespread lockdowns, the firm closed more than $3 billion in transaction volume in 2020, with $776 million for 76 seniors housing and healthcare facilities in 16 states closed over the last six weeks of the year. To reach that kind of volume in a year like 2020 is quite the accomplishment, and we congratulate Senior Managing Directors Ari Adlerstein and Ari Dobkin, Managing Director Josh Simpson, Vice Presidents Matt Lesnik and Jesse Rauch, and Associate David Gottlieb on their efforts. Acquisition financings seemed to dominate... Read More »
MONTICELLOAM Finances Large SNF Portfolio Acquisition
MONTICELLOAM, LLC (Monticello) made a splash at the start of 2021, announcing that it provided $368.0 million of first lien debt and $99.0 million of mezzanine financing to support the $507.0 million acquisition of a skilled nursing portfolio in the Southeast. Not a bad way to start the year. Two other skilled nursing facilities received acquisition financing courtesy of Monticello, which provided $20.0 million in first lien debt. Also included in the financing was one unencumbered skilled nursing facility. Located in Kansas and Ohio, the three properties total 251 beds and average nearly fifty years in age. An experienced owner/operator with a current... Read More »
Three More HUD Deals From PGIM Real Estate
PGIM Real Estate announced $36.7 million in HUD financings in the last six weeks of the year. Christopher Fenton and Catherine Eby first originated a $3.9 million loan for a 49-unit assisted living community in Ohio that was built in 1988 and renovated in 1994. Next, Mr. Fenton and Mrs. Eby were joined by Corley Audorff and Josh Williams to secure an $18.2 million loan for a six-year-old assisted living community in Minnesota. Finally, Mr. Audorff and Mr. Williams arranged a $14.7 million interest rate reduction loan for a 126-unit skilled nursing/assisted living facility in Colorado, which was built in 2012. These three refinances saved PGIM’s clients a combined $426,000 in... Read More »Schedule a demo
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