Convivial Jacaranda Trace Secures Financing
The Florida Local Government Finance Commission is selling $231.1 million of senior living revenue bonds for the Convivial Jacaranda Project in Venice, Florida. The commission will be issuing $227.6 million in Series 2025A tax-exempt fixed rate bonds, and $3.5 million in Series 2025B taxable fixed rate bonds. The issuer will loan the proceeds of the sale of the bonds to Convivial Jacaranda Trace to finance and refinance the original debt related to the purchase of an existing senior living community, and all or a portion of costs relating to the acquisition, construction and equipping of additional independent living units and assisted living units. Interest for the Series 2025A bonds will... Read More »
BWE Arranges Refinancing for Joint Venture
BWE arranged $308 million to refinance construction debt on two seniors housing communities on behalf of a joint venture between Columbia Pacific Advisors, LAMB Properties and Harbert South Bay Partners. Ryan Stoll and Taylor Mokris arranged the financing through an exclusive competitive process, which generated unprecedented interest and industry leading financing terms. The loan was ultimately provided by a large global lender, marking its entry into seniors housing. Dubbed Project New Horizons, the refinancing was secured for The Variel at Woodland Hills in Los Angeles, California, and The 501 at Mattison Estate in Ambler, Pennsylvania. Built in 2022, The Variel comprises 336... Read More »
CFG Closes Subordinate Financing
Capital Funding Group (CFG) closed $50.5 million in subordinate financing, which contributed to a $375.5 million loan, for the refinancing of 25 skilled nursing facilities across California, Colorado, Georgia, Maryland, West Virginia and Wyoming, featuring 3,243 beds. CFG partnered with the nationally recognized borrower to restructure two existing bridge loans into one consolidated debt capital structure. The borrower plans to eventually exit through a HUD refinance. Craig Casagrande, Tim Eberhardt and Catherine Mansel originated the transaction for the company. Read More »
JLL Arranges Financing for IRA Capital
JLL Capital Markets arranged $58 million in financing for Quail Park of Lynnwood on behalf of IRA Capital. Developed in two phases in 2014 and 2020, Quail Park comprises 252 units and sits on 15 acres in Lynwood, Washington. Alanna Ellis, John Chun and Zach Brantley of JLL placed the three-year, floating-rate senior loan with a regional bank. We believe the regional bank was BMO, as BMO’s Healthcare Real Estate Finance group announced it closed a $58 million term loan with IRA Capital related to a 252-unit seniors housing community in Lynwood, Washington. Dean Ferris of JLL sold the property to IRA Capital in June. Read More »
ACTS Secures Bond Financing
Ziegler announced the closing of ACTS Retirement-Life Communities, Inc. Obligated Group’s $163.1 million Series 2025 tax-exempt bonds for the Senior Living Finance Practice. The $100.17 million of Series 2025A tax-exempt bonds were issued through the Montgomery County Industrial Development Authority (Pennsylvania) and the $62.93 million of Series 2025B tax-exempt bonds were issued through the Palm Beach County Health Facilities Authority (Florida). ACTS is a Pennsylvania-based not-for-profit organization that was founded to own/operate CCRCs. It currently operates 28 communities in nine states with more than 10,000 units, including communities inside and outside of the ACTS... Read More »Schedule a demo
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