


Not-For-Profit Secures Bond Financing
Ziegler closed Josephine Caring Community’s $77.115 million Series 2025ABC bonds through the Washington State Housing Finance Commission. Josephine Caring Community is a 501(c)(3) not-for-profit corporation in Stanwood, Washington, north of Seattle, Washington. Established in 1908, Josephine owns/operates a 131-bed skilled nursing facility, a 57-unit assisted living home licensed for 65 residents, and an intergenerational child-care program licensed to serve 111 children (the Stanwood Campus). Josephine is using a portion of the bonds to construct the Cascade Village Project, which includes a new independent living community featuring 63 one-, two- and three-bedroom apartments,... Read More »
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 »