Aaron Becker Will Lead Senior Care Production at ORIX
ORIX Real Estate Capital has announced that Aaron Becker will lead the combined company’s (including Lancaster Pollard, RED Capital Group and Hunt Real Estate Capital) production efforts for the Seniors Housing & Healthcare team. Based in the firm’s Philadelphia office, Mr. Becker will also lead the East Coast team that services senior living clients. In addition, Lancaster Pollard veterans Casey Moore, Doug Harper and Quintin Harris each expanded their leadership roles, with Moore and Harper leading the West and Harris leading the Midwest. Business is still getting done at the newly merged company, with Lancaster Pollard closing five HUD loans in the month of April for seniors... Read More »
Monticello Closes Refinance for Kansas SNF Portfolio
MONTICELLOAM, LLC and its affiliates provided first lien debt to an experienced owner/operator for the acquisition of a couple of senior care facilities and the refinance of two others. All located in Kansas, the facilities total 282 beds. The acquisition included a skilled nursing facility and one skilled nursing/inpatient rehab facility, averaging around 45 years in age and combining for 156 beds in northeast Kansas. In the end, the borrower obtained $15.5 million in debt, amounting to about $55,000 per bed. With the current acquisition, and others funded by Monticello in 2019, that brings the owner’s portfolio to 945 total licensed beds. Read More »
HHC Finance Impresses & Lerner Will Chair Englewood Health Boards
Housing & Healthcare Finance impressed in the last week of April, closing $117 million in HUD loan modifications for nine skilled nursing facilities in Illinois, Massachusetts and Pennsylvania. That is one area in the financing world that seems to have not slowed down as a result of COVID-19. That still took HHC Finance to react quickly to improving capital market conditions to lower their clients’ loan rates with almost no out-of-pocket expenses for them. The facilities receiving the rate modifications totaled 1,238 beds. The good news kept on coming for HHC Finance, as Richard Lerner, Co-Owner and Executive Vice Chairman at the firm, was appointed Board Chairman at Englewood Health... Read More »
PGIM Finances Virginia Community Through Fannie Mae
After closing a scattered site HUD loan for a portfolio of three assisted living communities in Maryland, PGIM Real Estate stuck with the agency financings by closing a $19 million Fannie Mae refinance of a senior living community in Hardy, Virginia (Roanoke MSA). Built in 2009 and recently expanded, the 102-unit community has independent living, assisted living and memory care services along with a host of amenities, including membership to the nearby Carillon Wellness at West Lake, a wellness center with an indoor pool, group exercise classes and a gym. The expansion featured 37 new units and was overseen by the operator, Runk & Pratt Senior Living Communities. Chris Fenton led the... Read More »
Scribner Capital Debuts
Fundamental Advisors LP has just announced the formation of a strategic partnership with Scribner Capital, LLC to deploy stable capital to the seniors housing and care sector, especially given the unstable times we are in right now. Fundamental is a leading alternative asset manager that has invested in a variety of assets, including seniors housing, most recently exiting its highly successful investment in the CCRC known as The Clare in downtown Chicago. Scribner Capital was recently formed by James Scribner to provide capital to owners, operators and developers of seniors housing and care assets. Scribner has focused on providing capital solutions in this... Read More »Schedule a demo
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