Bridge-to-HUD Loan Facilitates Grace Manor’s Financing Transition
Sims Mortgage Funding (SMF) took out a bridge-to-HUD financing for Grace Manor at North Park at the end of August. The bridge component was a unitranche loan originally issued in February 2020 by Lakeland Bank and an affiliate of SMF’s parent company, HJ Sims, which the borrower used to purchase a 52-bed assisted living and memory care community in Allison Park, Pennsylvania. The new $9.63 million HUD-insured loan has a 35-year amortization and represents 78.3% of the asset’s value, underwritten at a 1.46x debt service coverage ratio. The loan, insured under the Section 232/223(f) program, covered 100% of the cost of refinancing, including capital reserves, repairs, deferred interest, HUD... Read More »
Seniors Community Secures Freddie Mac Loan
BWE closed a $35.3 million permanent loan for a seniors housing community in Fairfield, Connecticut. Taylor Mokris, Senior Vice President of Seniors Housing and Care at BWE, and Ryan Stoll, National Director of Seniors Housing and Care, led the financing. The 10-year, fixed-rate loan was provided through Freddie Mac on behalf of the borrower, one of the top institutional owners of seniors housing in the country. A 2023 transaction in LevinPro LTC’s M&A database shows Ventas as the buyer, for a price of $26.5 million, or $267,700 per unit. The loan featured full-term interest only and an extremely competitive interest rate. By moving quickly through underwriting and locking the index at... Read More »
CFG’s Senior Care Financing Activity
Capital Funding Group financed more than $86 million across six transactions from early to mid-August. The transactions supported two memory care communities, four skilled nursing facilities, and one psychiatric hospital in Missouri, California, Tennessee, Texas and Virginia on behalf of nationally recognized borrowers, one of which is a returning client. First, CFG provided a $33.1 million senior loan for the refinancing of two memory care communities in Missouri and California, featuring 122 beds. Last year, CFG provided a mezzanine loan for the borrower to acquire the properties. Ken Assiran and Jake Walsh originated the deal. Next, the company provided a $10.9 million HUD loan for the... Read More »
Full Continuum Community Obtains Refinancing
CBRE National Senior Housing refinanced The Pointe at Meridian, a 100-unit seniors housing community in Meridian, Idaho. Built in 2022, The Pointe at Meridian consists of 60 independent living units, including 14 townhome units, 30 assisted living units and 10 memory care units. Grace Management took over management of the property in July 2024 on behalf of the owner, Gold Stream Retirement Communities LLC, a Utah-based real estate firm that specializes in the development, construction and management of commercial real estate, including single-family, multifamily and seniors housing properties. To refinance the community, Aron Will and Tim Root of CBRE National Senior Housing originated a... Read More »
Arizona Seniors Housing Development Secures Construction Financing
Fifty Stones Capital Group closed a $39.3 million construction loan for a seniors housing community in Chandler, Arizona. The proposed development comprises 147 units with 150 beds. The opportunity came to Fifty Stones Capital Group through a local broker. The sponsor, an experienced local developer with a focus on multifamily and senior care, had already invested over $4.2 million of their own capital. This included acquiring the land without any debt and completing horizontal site improvements, leaving the site shovel-ready for construction. The development is adjacent to the sponsor’s existing, profitable seniors housing community, creating operational synergies. Fifty Stones... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
