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.
People’s United Bank announced that its Healthcare Finance Division provided a credit facility to support Brightview Senior Living’s development of a new senior living community in Wayne, New Jersey (New York City MSA). Being built on the 9.6-acre site of a vacant retail structure, Brightview knocked that building down to replace it with a 190-unit […]
What a six months it has been for Monticello Asset Management. In that time span, the firm and its affiliates have closed around $450 million in five-, seven- and 10-year fixed-rate loans, all of which were non-recourse. And in February alone, Monticello announced $278.7 million in first lien debt financings across seven transactions, plus a […]
Love Funding arranged financing for the construction of two new senior apartment buildings in Paterson, New Jersey. Love’s Leonard Lucas (say that five times fast) secured the HUD loans which totaled $55.6 million and came with low rates for the duration of construction and for a subsequent 40-year term. One location will feature 81 units […]
Ziegler successfully closed $42.5 million in rental senior housing bonds, consisting of both taxable and tax-exempt bonds, to support Wingate Healthcare’s acquisition of two senior living communities in New England. The Pittsfield, Massachusetts community has 125 beds in 118 units, while the Providence, Rhode Island community has 96 beds in 93 units. Both offer assisted […]
A couple of senior living communities refinanced with the help of the team at Live Oak Bank . In the first deal, KSL Seniors, a developer/owner focused on the western United States, secured a five-year loan with a floating interest rate to refinance its newly built 71-unit assisted living/memory care community in Greely, Colorado. Opened […]
Lancaster Pollard secured two Fannie Mae financings for senior living clients across the country. The first was an $11 million fixed-rate loan provided to a senior living community in Dover, Pennsylvania (York County). Featuring a mix of independent living, assisted living and memory care services, the one-story community has amenities such as gazebos, walking paths, […]
In what we would call a change in strategy for a healthcare REIT, Ventas is launching a new “growth platform,” called the Ventas Life Science and Healthcare Real Estate Fund, L.P. They are calling it a “perpetual life vehicle” that will focus its investments in core and core-plus life science, medical office and seniors housing real estate. It will […]
Harborview Capital Partners announced it has arranged to finance a portfolio of four skilled nursing facilities and one assisted living community in Maryland. A New Jersey-based owner recently purchased the properties and was seeking a cash-out refinance. Working with Ephraim Kutner, Jonathan Kutner and Eli Kutner of Harborview, they obtained an $81 million loan from a national lending partner. The financing came with an […]
It is very easy to say that sale/leaseback structures with REITs are dead, especially if your leases are dead in the water. But then you have to ask, why are they dead in the water, and why did you enter into long-term leases in the first place? You could have always financed your properties with debt at […]
The Regions Bank Healthcare Real Estate Team and Regions Capital Markets had quite the Q4, closing more than $121.4 million in balance sheet and agency loans. First, to HUD, Jack Boudler of Regions secured a $4.57 million loan to fund the addition and renovation of a small skilled nursing facility in the Midwest. The facility […]