• Ziegler Sells Asset on Behalf of Marquee Capital

    Ziegler, a specialty investment bank, served as exclusive financial advisor to Marquee Capital (formerly, Berengaria Development) on the sale of Terova Senior Living, a 101-unit senior living community in Mequon, Wisconsin. Marquee Capital is the real estate company affiliated with Marcus Investments, LLC, the Marcus’ family office. Located in... Read More »
  • Lument Arranges Two Short-Term Debt Transactions

    Lument announced a couple of financings involving short-term debt, one for an acquisition and one to refinance a stabilizing seniors housing property. First, a long-time operator of a 150-bed skilled nursing facility in Oklahoma City, Oklahoma, was able to take its ownership interest in the facility from 33% to 100% with the help of acquisition... Read More »
  • Cushman & Wakefield/Greystone JV Announces Latest Refinance

    Cushman & Wakefield and Greystone jointly announced the successful refinance of Kōz on Weaver Road, a 100-unit seniors housing community in Snohomish, Washington. Kōz Development, LLC developed the community in 2020 to feature 40 studios, 40 one-bedroom and 20 two-bedroom units in five stories. There are also common spaces on each floor and... Read More »
  • New IL Community Funded by Ziegler

    Investment banking firm Ziegler just closed a $31.96 million tax-exempt financing on behalf of EveryAge (formerly United Church Homes and Services), which is a North Carolina-based not-for-profit that consists of three retirement communities and other programs. The funds will be used to construct BellaAge Hickory, located in downtown Hickory,... Read More »
  • 60 Seconds with Swett: The Keys to Retirement Success

    Last week, a partnership between Age Wave and Edward Jones conducted a survey with The Harris Poll, getting more than 12,000 respondents, the majority of which were retirees and pre-retirees, to answer questions on the keys to success in retirement. With Edward Jones as one of the initiators of the survey, being a major financial advisory firm,... Read More »
Greystone Refinances Pair of Supportive Living Facilities

Greystone Refinances Pair of Supportive Living Facilities

Greystone provided $35.7 million in HUD loans to refinance two supportive living facilities in Illinois. Built in 2004 and 2005, the properties total 272 units and provide an alternative to a nursing home for low-income seniors who do not require skilled nursing care. Greystone’s Eric Rosenstock originated the financing on behalf of Grand Lifestyles. The non-recourse loans both carry 35-year terms, full-term amortization and fixed rates. The transaction follows another supportive living facility refinance that Rosenstock arranged for The Pointe at Kilpatrick, a 122-bed facility in Crestwood, Illinois. For that property, Greystone provided a $13.7 million HUD loan with a 35-year term and a... Read More »
BWE Finances New Development in Georgia

BWE Finances New Development in Georgia

BWE, a national commercial and multifamily mortgage banking company, closed a $4.5 million long-term loan for Legacy at Walton Trail, a newly constructed affordable seniors housing development in Villa Rica, Georgia (Atlanta MSA). The loan includes an 18-year term with a 35-year amortization. The property is also financed with 9% Low-Income Housing Tax Credits and a loan from the Housing Authority of Villa Rica. Victor Agusta, Jr., Executive Vice President in BWE’s Raleigh, North Carolina office, originated the Freddie Mac Targeted Affordable Housing loan on behalf of the borrower, Walton Communities. Built on the site of obsolete public housing, Legacy at Walton Trail comprises 90 one-... Read More »
Huntington National Bank Finances Discovery Expansion Project

Huntington National Bank Finances Discovery Expansion Project

Construction loan activity has slowed to a relative trickle, but Huntington National Bank closed a $26.5 million loan for the development of a 90-unit, Phase II expansion project at an existing senior living community owned and operated by Discovery Senior Living. Located in Dallas, Texas, the community currently features 175 units of independent living. The 81,500-square-foot expansion would add 72 units of assisted living and 18 of memory care, and it is set to open in 12 months.  Working with Huntington’s Healthcare team for the first time, Discovery Senior Living obtained a $26.5 million loan with a floating interest rate. Lisa Silvers of Huntington handled the... Read More »
JLL Capital Markets Arranges JV Equity for Construction Project

JLL Capital Markets Arranges JV Equity for Construction Project

At a time when construction financing is hard to come by, JLL Capital Markets announced that it worked on behalf of Centric Development LLC to arrange joint venture equity for a seniors housing development project in Fredericksburg, Virginia. Located across the street from Spotsylvania Regional Medical Center, the project is a 153,000-square-foot building on a 16.2-acre parcel that will contain 106 assisted living one- and two-bedroom units and 36 memory care units. It is set to open in 2025 and will include luxury finishes. The JLL Capital Markets Advisory team was led by Managing Director Joel Mendes, Senior Managing Director Anthony T. Fertitta Jr. and Associate Billy... Read More »
Dwight Capital Announces Latest Activity

Dwight Capital Announces Latest Activity

Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed over $118.35 million in seniors and healthcare financing during the first quarter of 2023. Among those transactions, Dwight closed a $31.2 million HUD refinance for Riverfront Rehabilitation and Healthcare Center, a 180-bed skilled nursing facility in Pennsauken, New Jersey. The SNF features a beauty salon, gym, lounges, landscaped outdoor spaces and waterfront views. The HUD loan refinanced an existing bridge loan that was provided by Dwight Mortgage Trust in June 2022. Managing Director of Healthcare Finance, Adam Offman, originated this transaction. Some other notable transactions from the quarter included a $40... Read More »
BWE Refinances Newly Built AL/MC Community

BWE Refinances Newly Built AL/MC Community

Bellwether Enterprise Real Estate Capital (BWE), a national mortgage banking company, closed the refinance of a newly-built assisted living/memory care community in Levittown, New York. Taylor Mokris and Ryan Stoll of BWE originated the $26.66 million loan through a regional bank on behalf of the borrower, a regional developer and owner of seniors and affordable housing.   Opened in November 2020, Village Green features both assisted living and memory care options. It was around 80% occupied at the time of the transaction. With the time to refinance approaching, the BWE Seniors Housing and Care team ran a competitive process to source multiple bank quotes on behalf of their client.... Read More »