CFG Hit the Ground Running in Q1
Capital Funding Group wasted no time in the first quarter, closing $428.9 million in total financing. The transactions spanned skilled nursing, assisted living, independent living, memory care, behavioral health, multifamily and commercial lending on behalf of nationally recognized borrowers. Some highlighted transactions include: ● A $17.6 million acquisition bridge loan for the financing of a 120-bed skilled nursing facility in Nevada, for an existing client. Patrick McGovern and Ryan Hunsicker originated the deal. ● A $9.0 million HUD loan for the refinancing of a 70-bed skilled nursing facility in Montclair, New Jersey. Tommy Dillon originated the deal. ● $42.9 million in financing for... Read More »
Separate Borrowers Secure Financing
Cambridge Realty Capital announced a couple separate closings. First, the company provided a $4.31 million HUD refinance of Elizabeth Care Center, a skilled nursing facility in Elizabeth, West Virginia. Cambridge utilized HUD’s Express Lane, which enabled the loan application to receive its firm commitment just 18 days after being accepted. According to LevinPro LTC, the facility sold at the end of 2024 to Providence, a not-for-profit, faith-based health care system that had been operating the facility since February 2020. It comprises 36 beds, and was built in 2010 by the seller, Coplin Health Systems. Cambridge Realty Capital also funded $49.67 million in first mortgage financing... Read More »
Ohio AL/MC Community Secures Refinance
Ziegler served as the lead financial advisor in the placement of a $10.35 million loan to refinance existing indebtedness for an 80-unit assisted living/memory care community in Toledo, Ohio. Patrick Lee, Managing Director in Ziegler’s Senior Housing & Care Finance Practice, advised and negotiated the transaction for the borrower, a private owner. John Gast, Michael McGinnis and Jake Chivini also supported the transaction. The loan was placed with Stride Bank with terms designed to support the objectives of the sponsor, borrower and residents. The financing also highlighted Stride’s ongoing relationship with Ziegler, while establishing a new relationship with the sponsor... Read More »
CIBC Springs Ahead with Deal Flow
CIBC has been hard at work this Spring, successfully closing several acquisition financings for senior care clients across the country. The largest was a $51.5 million term loan that supported the purchase of four skilled nursing facilities in Illinois totaling 586 beds. Historical performance trended positively over the last two years across the portfolio, and going forward, occupancy is expected to be in the high-70% range, with continued improvement in operating margins. The borrower received the term loan plus a $2.5 million capital expenditure non-revolving line of credit and an $8 million working capital revolving line of credit. Dan Forrer handled the transaction for CIBC Bank USA.... Read More »
Ziegler Closes Two Bond Transactions
Ziegler announced the closing of two separate bond transactions. First, it closed Mennonite Village’s $86.22 million Series 2026AB bonds through the Hospital Facility Authority of the City of Albany, Oregon. Mennonite Home of Albany, Inc., doing business as Mennonite Village, is an Oregon-based not-for-profit owner/operator in Oregon. It operates a CCRC that is situated on a 275-acre campus in Albany, in the Willamette Valley. The campus began as a 24-unit nursing home in 1947, and today consists of 299 independent living cottages, 18 independent living apartments in a building known as Ashwood Court II, 42 skilled nursing beds in Mennonite Home, 96 assisted living apartments in Quail Run,... Read More »Schedule a demo
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