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 »
Mid-Atlantic Seniors Housing Community Secures Refinancing
Steven Muth, Austin Sacco and Garrett Sacco of Berkadia Seniors Housing & Healthcare arranged up to $33.1 million in financing for a seniors housing community with more than 150 units in the Mid-Atlantic. The refinance included an initial loan of $28.1 million, providing over $8 million for unit upgrades and common area improvements. Additionally, Berkadia negotiated a $5 million earn-out, which could increase the total loan balance to $33.1 million upon achieving certain coverage metrics. There was significant interest in this loan request, with the financing ultimately being secured through a regional bank. Read More »
Berkadia’s H1 2025 Seniors Housing & Healthcare Financings
Berkadia’s Seniors Housing & Healthcare platform closed $1.13 billion in financing during the first half of the year. The team financed 64 properties totaling 7,710 beds/units. The total includes $250 million in Berkadia-led bridge loans with participations, $123 million in HUD 232/223(f) financings, and $758 million in GSE and third-party placements. A notable refinance from the first half of the year was one of the largest seniors housing refinances in recent years. The team secured $627.2 million of mortgage debt for a 35-asset seniors housing portfolio spanning 15 states. Read More »Schedule a demo
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