Florida Not-For-Profit Secures Financing
Ziegler announced the closing of Oak Hammock at the University of Florida’s $93.5 million Series 2025 bonds issued through the Alachua County Health Facilities Authority. This is the third transaction Ziegler has completed for Oak Hammock, a Florida not-for-profit corporation that owns and operates a CCRC in Gainesville, Florida. The community sits on a 135-acre campus that currently consists of 269 independent living, 52 assisted living and 12 memory care units, plus 73 skilled nursing beds. All the skilled nursing beds are Medicare certified. Proceeds of the Series 2025 bonds will be used, together with other available funds, to finance and refinance all or a portion of the costs... Read More »
GEM Realty Capital Expands Its Active Adult Portfolio
The CBRE Capital Markets Houston Multifamily Group and CBRE National Senior Housing handled the sale of an active adult community in Houston, Texas. Built in two phases in 2006 and 2012, Elate Royal Oaks, previously known as Camden Royal Oaks, consists of 340 units (236 were built in Phase 1, and 104 were built in Phase II). Clint Duncan, Matt Phillips, Jock Naponic, Nolan Mainguy and Philip Kerr of the Multifamily Group, as well as Aron Will and John Sweeny on the seniors housing side, represented the seller. CBRE National Senior Housing also acted as the advisor in securing acquisition financing on behalf of the buyer through its Debt & Structured Finance team. Aron Will and Michael... Read More »
New Venture Secures Acquisition Financing and Purchases Active Adult Community
Newmark arranged the sale and financing for a seniors housing community in Huntington Beach, California. The seller, Bascom Group, was represented by Newmark Vice Chairman Dean Zander, who worked on the deal with Voit Real Estate Services’ Joe Leon and Nick Ingle. Huntington Breeze is a 114-unit, 103,000-square-foot active adult community that was built in 1987 and renovated in 2017. Newmark Executive Managing Directors Vincent Punzi and Lowell Takahashi facilitated acquisition financing on behalf of the buyer, WSW Property Ventures, a new venture headed by Steve Wasserman, Pamela Scott and George Wu. WSW plans to unlock additional value through strategic initiatives, including the... Read More »
BWE Arranges Bond Financing for California IL/AL/MC Community
Ryan Stoll and Taylor Mokris of BWE arranged $65 million in bond financing for Ivy Park at Milpitas, a seniors housing community with 199 independent living, assisted living and memory care units in Milpitas, California. The financing was secured on behalf of a joint venture between Blue Mountain Enterprises and SRM Development. Oakmont Management Group is managing the property. The loan was structured as a 15-year bond issuance, credit-enhanced by a letter of credit from Poppy Bank, and features five years of interest-only payments along with a favorable covenant structure. The financing provides the sponsor with enhanced flexibility and a long-term runway to complete lease-up and drive... Read More »
Ziegler Closes Acquisition and Bond Financings
Ziegler announced that it advised on an acquisition loan and closed a bond financing. Ziegler was the capital structure advisor and hedge advisor in the placement of a $52.5 million acquisition loan on behalf of a regional owner/operator. The acquisition financing was used to acquire five independent living communities in Michigan. The portfolio surrounds the Metro-Detroit MSA and has a total of 631 units and 695 beds. Christopher Utz advised and negotiated the transaction for the borrower and placed the loan with Oxford Finance. Ziegler’s Structured Products Practice placed an interest rate cap through a competitive bid process, ultimately executing the cap with Goldman Sachs. Ziegler... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
