Stay up-to-date on skilled nursing and assisted living businesses, retirement communities, REITs and home health care with The SeniorCare Investor newsletter. For over 50 years, The SeniorCare Investor has been tracking mergers, acquisitions, equity & debt financings, bankruptcies and corporate shake-ups in the senior care market.
When a CCRC in Norfolk, Virginia wanted to launch a major $200 million expansion of its campus, it turned to its long-time partner HJ Sims to finance the project. The two go way back (to the early 2000s), with Sims structuring, placing or underwriting the initial seed capital transaction, the first phase of development financing, […]
Just a few months after announcing the hiring of the HFF seniors housing team to its ranks, Newmark Knight Frank (NKF) just announced that it snagged industry veterans Heidi Brunet and Lisa Lautner from Berkadia. They will join NKF as executive managing directors and will work with Sarah Anderson on the firm’s seniors housing debt […]
A couple of seniors housing communities in western New York received Freddie Mac financing courtesy of KeyBank Real Estate Capital. Carolyn Nazdin of the firm’s Healthcare Group arranged two fixed-rate loans with 15-year terms and five-year interest-only periods. The first, at $45.8 million, was secured by a 162-unit community in Orchard Park. Built in 1992 […]
Lancaster Pollard Mortgage Company just closed its 16th HUD financing since the government shutdown ended in January. They clearly did their leg work during the shutdown, as in the first three weeks following it, 16 of the 25 FHA 232 commitments issued by HUD went to Lancaster Pollard, for a total of $224 million in […]
Just over three years since buying three assisted living communities in Colorado, Middle East-based alternative investment fund manager Arcapita is refinancing them with the help of the team of Stuart Wernick, Jeff Ringwald and Bill Jackson of Walker & Dunlop. Operated by MorningStar Senior Living since opening in 2013 and 2014, the communities were nearly […]
Cambridge Realty Capital Companies arranged a HUD refinance of an assisted living/memory care community in Sherman, Texas. Built in 1982 and featuring 49 units, the community is owned by a Texas limited liability company, but according to our M&A database, it was last acquired in 2015 by a non-traded REIT. At the time it was […]
It was a team effort from Greystone to successfully close a Fannie Mae refinance of an assisted living community on the New Jersey Shore. Working on behalf of the borrower, Sage Healthcare Partners, Greystone’s DJ Elefant originated the $24 million loan, with Neal Raburn providing support in structuring, underwriting and closing the transaction. The 10-year […]
Housing & Healthcare Finance posted a strong month in March with six HUD transactions closed for skilled nursing facilities in Florida, New Jersey, New York and Texas, plus one for a 156-bed supportive living facility in Illinois, all totaling $62 million. The Illinois closing marked the fifth supportive living HUD closing for HHC Finance in […]
Christopher Fenton of PGIM Real Estate Finance originated the refinances of two Morning Pointe assisted living/memory care communities in Kentucky. This transaction comes just two years after both communities were built, so the market research clearly worked since occupancy has already cleared 90% at the two locations. There was a 60-unit AL/MC community in Danville, […]
Five years have passed since Greystone arranged a $54.5 million acquisition bridge loan for SentosaCare to purchase a 280-bed skilled nursing facility in Southampton, New York. That means it’s time for a refinance, which Fred Levine obliged by arranging a $58.8 million HUD loan with a 35-year term ($210,000 per bed). Located on nine acres […]