Public Finance Authority Issues Bonds to Finance AL/MC Community
Wisconsin-based Public Finance Authority plans to issue $132.4 million in bonds to finance a retirement community in Potomac, Maryland. The revenue bonds will finance the acquisition, construction and outfitting of the ISF – Potomac Senior Living rental retirement community. The project will feature approximately 68 assisted living units and 26 memory care beds. Proceeds from the bond sale will also be used to fund a debt service reserve, capitalized interest for about 31 months and cover working capital and issuance costs. The offering is structured in two tranches: $128.4 million in Senior Series 2025A bonds, which are tax-exempt, and $4 million in Senior Series 2025B bonds,... Read More »
HUD-Backed Seniors Housing Community Opens on Long Island
A HUD-financed seniors housing project has celebrated its grand opening in Bay Shore, New York. Netherbay at Bay Shore is a state-of-the-art assisted living/memory care community located at the historic Gulden family’s summer homestead on Long Island. It features 72 units and is operated by Meridian Senior Living. Greystone’s Lisa Fischman had originated the $26 million construction-to-permanent HUD loan in 2023, which was the only healthcare construction loan in the United States approved by HUD that year. With construction complete, the financing converts to a 40-year, fully amortizing, non-recourse, fixed, low-rate loan. Read More »
Joint Venture Secures Refinancing for Class-A Seniors Housing Community
CBRE National Senior Housing handled two refinancings in separate transactions. First, CBRE arranged a refinance of Bruceville Point on behalf of a joint venture between Tenfold Senior Living and AEW Capital Management. Tenfold manages and operates the community. Aron Will and Tim Root originated a three-year floating-rate loan with full-term interest only through a regional bank. Bruceville Point is a 137-unit, Class-A seniors housing community in Elk Grove, California. It offers independent living, assisted living and memory care. The common areas include three dining venues (including a bistro), club room, living room, movie theater, fulltime staffed fitness studio, art studio,... Read More »
CFG Deploys Capital Across Four Transactions
Capital Funding Group financed more than $53 million across four transactions from mid- to late-March. The transactions supported three skilled nursing facilities and four assisted living and memory care communities throughout South Carolina and Georgia. They were completed on behalf of nationally recognized borrowers, one of which is a returning client. The first transaction was a $13 million bridge-to-HUD loan for the acquisition of four assisted living and memory care communities with 219 beds in Georgia. James Zabel originated the transaction. CFG next provided a $12.4 million HUD loan for the refinancing of a 176-bed SNF in Inman, executing the permanent, low-interest rate,... Read More »
North Carolina CCRC Secures Bond Financing for Expansion
Ziegler announced the pricing of Twin Lakes Community’s $35.31 Series 2025A and 2025B bonds. Twin Lakes Community operates a not-for-profit, fee-for-service CCRC on 215 acres in Burlington, North Carolina. Since opening in 1983, Twin Lakes has grown to include 482 independent living, 36 assisted living, 32 memory care and 104 health care units. Having recently completed construction and fill-up of Stockton Phase 1, a 48-unit IL apartment building, Twin Lakes is now preparing to launch Phase 2 of the Stockton project. This next phase will include an additional 36 IL apartments, ranging from 1,046 to 1,939 square feet. At the time of pricing, 100% of the new units were pre-sold with a 10%... Read More »Schedule a demo
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