Helios Healthcare Advisors Arranges ALF Partnership Buyout
Mario Wilson and Bill Janis of Helios Healthcare Advisors pulled off a successful partnership buyout of an assisted living campus in Illinois. Not only that, but the pair also arranged the acquisition financing for the deal. Built in the 2000s, the 54-unit assisted living community was relatively stabilized and reported positive cash flow. At some point early in its history, the property was purchased by the partnership, but one partner is now looking to retire. Helios was engaged to structure the sale which resulted in a transfer of stock of the operating company and a real estate asset sale for the community. Helios then arranged a fixed-rate loan with a 25-year, fully amortizing term... Read More »
CBRE Funds Joint Venture’s Colorado Acquisition
Cadence Living and a private equity joint venture partner acquired two senior living communities in the Denver, Colorado metro area, thanks in part to financing secured by the CBRE National Senior Housing team of Aron Will, Austin Sacco and Matthew Kuronen. Located in Aurora and Lakewood, these two communities combine for 152 assisted living and 35 memory care units. Both were previously operated by Brookdale Senior Living. The new joint venture owner will invest around $4 million to improve the communities’ marketability. To fund the acquisition, CBRE arranged a $14.4 million bridge loan from a regional bank. It came with a four-year term, three years of interest only and a one-year... Read More »
Regions Bank Secures Financing For Seattle Development
The Regions Bank Healthcare Real Estate team recently secured construction financing for a to-be-built senior living community in a Seattle, Washington suburb. The three-story building will include 65 independent living units, 63 assisted living units and a total of nearly 107,500 square feet. It is being built by a joint venture between a Southeast-based developer/owner and a Southwest-based owner/operator. To finance it, they obtained a $28.3 million mini-perm loan, which comes out to approximately $221,000 per unit. The loan features a floating rate and five-year initial term, with four years of interest only. There is also a staged reduction in recourse, and at or prior to maturity,... Read More »
HHC Finance Closes Four HUD Deals
Housing & Healthcare Finance (HHC Finance) just announced four transactions from its HUD pipeline, totaling more than $44 million. The first deal was closed for a 120-bed skilled nursing facility in Ohio. Built in the early 1970s, it had occupancy in the low 90s and received a $10 million loan. Another skilled nursing facility in Ohio then obtained a $10.2 million loan from HHC Finance. That 93-bed facility was a little older (built in the mid-1960s) and was also well occupied around 95%. Next, HHC Finance closed a $10.5 million HUD loan for a 100-bed skilled nursing facility in Maryland. And finally, the firm closed its largest deal of the group for a 165-bed skilled nursing... Read More »
Bellwether Enterprise Secures Freddie Mac Financing
Bellwether Enterprise Real Estate Capital closed a cash-out refinance for a large active adult community in Placentia, California. Owned and operated by Mesa Management, Emerald Isle features a total of 422 units, with both one- and two-bedroom options ranging in size from 588 to 1,128 square feet. There are also numerous amenities, from a fitness center and clubhouse to a putting green and heated swimming pool/spa. It was built in 2004. Working through Freddie Mac, Bellwether Enterprise’s Jason Krupoff originated $82.487 million in financing for the property. The 10-year loan includes five years of interest only at an interest rate below 3% and was underwritten at a 60% loan-to-value... Read More »Schedule a demo
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