Eagle Arc Partners Acquires 20 Skilled Nursing Facilities

Eagle Arc Partners Acquires 20 Skilled Nursing Facilities

Eagle Arc Partners, formerly known as BM Eagle Holdings, has made yet another large investment in the skilled nursing industry, acquiring 20 skilled nursing facilities, with 18 in Florida and one each in Mississippi and Georgia. All will be leased to local operators going forward.   To fund the deal, Eagle Arc, which is run by Elliott Mandelbaum, worked with Capital Funding Group (CFG) to close a $317.5 million bridge-to-HUD financing package. CFG provided the financing through its new credit venture, CFG Credit Partners, LLC, an off-balance sheet credit venture managed by CFG Asset Management.   The new venture expands the company’s bridge-to-HUD lending capacity, a welcome sign... Read More »
Cushman & Wakefield Refinances Phoenix CCRC

Cushman & Wakefield Refinances Phoenix CCRC

Several years after financing the acquisition of a CCRC in Phoenix, Arizona, Cushman & Wakefield is returning to refinance the property in a $13 million deal. Featuring a total of 327 units, made up of 100 independent living units, 171 assisted living units, 29 memory care beds and 60 skilled nursing beds, the community is set on a 14-acre campus in northern Phoenix.   A joint venture between an affiliate of Westport Capital Partners LLC and Integro Healthcare Consulting, LLC acquired it in 2017 for an undisclosed sum, with the help of a $15.1 million financing commitment from PNC Bank and arranged by Cushman & Wakefield. The debt also helped fund immediate renovations and a... Read More »
Ziegler Structures Debt For Radiant Senior Living Acquisition

Ziegler Structures Debt For Radiant Senior Living Acquisition

Ziegler served as exclusive capital structuring advisor on a debt placement for the borrower, Radiant Senior Living, to acquire a portfolio of three seniors housing communities in the Pacific Northwest. Two of the properties are located near Seattle, Washington, while the third is in Bozeman, Montana.   Previously owned by a publicly traded REIT, they combine for 36 independent living and 204 assisted living units and generate in-place, stabilized cash flow. However, there is an opportunity to add value through economies of scale, which suits Radiant and its 18-property portfolio in the Pacific Northwest.  The $42.6 million in financing consisted of both senior and mezzanine debt,... Read More »
CIBC Secures Cash-Out Refinance and Working Capital

CIBC Secures Cash-Out Refinance and Working Capital

Matthew Tyler and Neal Netzel of CIBC Bank USA closed a cash-out refinance of a 120-bed skilled nursing facility in eastern Kentucky. With an effective age of 20 years, the facility has been managed by a local operator for a number of years. Its historical occupancy hovered around 75%.  Ownership obtained a $13.5 million loan, with a five-year term, on the real estate. In addition, CIBC arranged a $1.0 million revolving line of credit to support working capital needs.  Read More »
Oxford Finance Funds Wisconsin SNF Acquisition

Oxford Finance Funds Wisconsin SNF Acquisition

Oxford Finance secured a senior credit facility and revolving line of credit for a partnership to acquire two skilled nursing facilities and a combined 158 beds in Wisconsin. That partnership is between AB Asset Management LLC, a vertically integrated real estate company based in Miami Beach, and Vitalogy Property Holdings LLC, a growing owner/operator founded in 2015 by Levi Rudd and Louis Kass.   Vitalogy is expanding its existing operating platform in the Midwest and also partnered with Symmetry Healthcare, a provider of back office support services in the healthcare industry, to acquire the properties. To fund the deal, Oxford closed both the... Read More »
M&T Realty Finances Avanath Acquisition

M&T Realty Finances Avanath Acquisition

Avanath Capital Management bought an affordable senior apartment complex in Sterling, Virginia (Washington, D.C. MSA) with the help of a loan provided by M&T Realty Capital Corporation. Developed in 2001 with low-income housing tax credits, this community has 150 units and was owned by a private local investor. It offers one- and two-bedroom unit options, and there are amenities such as a fitness center, billiards table, beauty salon and entertainment room, among others.  Greysteel represented the seller in the transaction, which resulted in a $27.25 million, or $181,000 per unit, purchase price. M&T’s Matthew Hodson arranged a $17.1 million Fannie Mae Multifamily Affordable... Read More »