CBRE Arranges Fannie Mae Refinance
CBRE National Senior Housing arranged a Fannie Mae loan assumption of a portfolio of seniors housing communities on behalf of an institutional client, taking out an original CBRE-originated loan in the process. The portfolio features five assets that feature 435 independent living and assisted living units and are spread across Oregon and Washington. Through CBRE’s Fannie Mae DUS Lending Platform, Aron Will and Adam Mincberg facilitated the $64.6 million assumption of a loan that CBRE originated in 2017. Read More »
CIBC Finances Boston-Area SNF
CIBC Bank USA closed a new $13 million commercial mortgage term loan for a 120+ bed skilled nursing facility near Boston, Massachusetts. The facility is owned and operated by a high-quality, national skilled nursing operator. With an effective age of 20 years, the skilled nursing facility currently posts strong operating results with occupancy averaging 89% and EBITDAR margins of 20%. The financing was handled by Matthew Tyler and Neal Netzel with CIBC Bank USA. Read More »
Berkadia Secures Large Portfolio Refinance
Berkadia closed $627.2 million in agency financing for Project Raven. Project Raven is a 35-asset seniors housing portfolio with 4,395 independent living, assisted living and memory care units. The portfolio spans 15 states. Austin Sacco, Steve Muth, Garrett Sacco and Alec Rosenfeld handled the financing on behalf of an institutional borrower. The transaction was a roughly five-month process and refinanced existing debt. It represents one of the largest seniors housing refinances in recent years. Read More »
