Dwight Capital Stays Active in 2019
Dwight Capital has closed a slew of bridge financings in the last couple of months totaling more than $17 million. These transactions included a $3.96 million bridge loan for a 120-bed skilled nursing facility in Overland Park, Kansas, a $2.34 million loan for a 32-bed assisted living community in Hinsdale, New York and a $3.77 million acquisition loan for a 116-bed SNF in Cape May Court House, New Jersey that was bought by an owner/operator of several other facilities in the state. Dwight Capital also funded the acquisition of a skilled nursing portfolio in Wisconsin (in a sale led by Amy Sitzman and Michael Segal of Blueprint Healthcare Real Estate Advisors) with a $3.7 million loan... Read More »
Monticello Funds Tennessee SNF Purchase
Following up on several other acquisition financings closed on behalf of a previous borrower in the past three years, Monticello Asset Management funded the purchase of two more skilled nursing facilities in Tennessee. Totaling $16 million in first lien debt that Monticello expects to refinance through HUD in the coming years, the transaction was arranged for an experienced owner/operator with a current portfolio of more than 3,700 licensed beds. This latest acquisition totaled 303 beds across the two Tennessee locations. Monticello’s asset-based lending group, Monticello Commercial Capital, also provided a $3 million working capital loan to the operating companies. Read More »
Dwight Capital Closes the Bridge
Dwight Capital had a busy February for bridge loans, closing four separate loans for more than $13.7 million. The bridge loans included $3.96 million for a 12-bed skilled nursing facility in Kansas and a $3.7 million loan for a three-facility, 193-bed portfolio that was sold by a not-for-profit to a repeat client of Dwight Capital. In addition, the Dwight team closed a $3.77 million bridge loan on a 116-bed SNF in New Jersey for a buyer that owns and operates several facilities in the state. Finally, they closed a $2.34 million bridge loan on a 32-bed assisted living community in New York. Once the HUD refinancing is completed, Dwight Capital will be providing a supplemental loan for the... Read More »
Love Funding Closes Construction Bridge Loan
Leonard Lucas of Love Funding closed a $10.5 million bridge-to-HUD construction loan for a transitional rehab facility in Yuma, Arizona. The new facility will have 32,000 square feet and 41 private rooms. It will be 100% Medicare and managed care with no Medicaid patients. The bridge loan was placed with Love Funding’s parent company, Midland States Bank. This is the second bridge-to-HUD construction loan obtained through Love Funding in the developer/operator’s portfolio. Read More »
Meridian Gets It Done in Virginia
The team of Ari Adlerstein, Ari Dobkin and Josh Simpson of Meridian Capital Group closed a large financing for the acquisition of a portfolio of 12 skilled nursing facilities located throughout Virginia. Totaling 1,346 beds, the portfolio is now owned by a private skilled nursing investor. A finance company provided the $90 million loan. Read More »Schedule a demo
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