Texas AL/MC Development Receives Construction Financing and Equity Raise
The Newmark Seniors Housing Team handled a $180 million construction financing and equity raise for Nexus Development’s newest community, Vivante at Turtle Creek. Financing was secured through Beal Bank, and the equity was raised from private investors in multiple states, including Texas and California. The seniors housing community will feature 164 assisted living and 29 memory care units on a 1.37-acre plot in Dallas, Texas. The Class-A asset will stand 20 stories tall, and is slated for 2027 completion. The architect is HKS Inc. and the general contractor is ANDRES Construction Services. Read More »
New York SNF Portfolio Secures Bridge Loan
MONTICELLOAM funded a $217 million floating-rate senior bridge loan for a skilled nursing portfolio. The financing carries a 36-month term and supports the sponsor, a repeat client. The loan supports the acquisition and refinance of this portfolio, which comprises four facilities in New York. The sponsor is acquiring two of the assets and financing the other two, which are stabilized. Together, the four facilities comprise more than 1,000 beds. Read More »
Bond Issuance Finances Massachusetts CCRC Expansion
MassDevelopment, Massachusetts’ development finance agency and land bank, issued $134.85 million of tax-exempt bonds on behalf of Lasell Village Inc., a not-for-profit corporation that was formed to establish and operate Lasell Village, an educational CCRC. Lasell Village was the nation’s first seniors housing community to require each resident to commit to a goal-oriented program of education. Located immediately adjacent to the campus of Lasell University, it offers an intergenerational environment. Lasell Village Inc. will use a portion of proceeds to renovate and expand the CCRC. The corporation will fund the purchase of 1.37 acres of land currently owned by Lasell University, where... Read More »
Tremper Capital Group Closes Refinance
Tremper Capital Group, which takes a team-based approach to its transactions, closed a $27.5 million floating rate refinance for a Class-A, 91-unit assisted living and memory care community with strong, stabilized performance. The non-recourse loan featured a seven-year term aligned with the sponsor’s business plan and included a performance-based earn-out. The structure met all of the sponsor’s financing objectives for the asset. The transaction introduced a new lending relationship between a local owner/operator and Live Oak Bank. Live Oak’s track record helped support execution certainty. This deal marked the third seniors housing loan TCG closed with Live Oak in June alone, and... Read More »
Dwight Capital Finances Large Portfolio Acquisition
Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed a $230 million bridge loan to support the acquisition of a senior care portfolio. The portfolio comprises 19 assets spread throughout Ohio, and, together, they total 1,896 skilled nursing and assisted living beds. In conjunction with the bridge loan, Dwight Healthcare Funding provided a $12 million working capital line of credit to support the portfolio’s ongoing operational needs. The $230 million financing marks DMT’s largest bridge transaction to date. It was originated by Adam Offman, Managing Director of Healthcare Finance, and Yossi Benish, Vice President of Business Development. Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
