Wisconsin Communities Secure Bridge Financing
MonticelloAM, along with a firm affiliate, closed $28 million in bridge financing for two seniors housing properties in Wisconsin. Karina Davydov originated the transaction through the firm’s bridge lending platform. The floating-rate senior bridge loan has a 24-month initial term with two extension options. The sponsor is an experienced Midwest operator and repeat client of MonticelloAM that plans to use the loan proceeds to refinance the existing debt on two assisted living communities near Madison and Milwaukee, comprising 170 beds. Read More »
Lument Closes Freddie Mac Loan
Lument closed a $60 million Freddie Mac loan to refinance Park Terrace, a 180-unit assisted living/memory care community in Rancho Santa Margarita, California. Kisco Senior Living owns and operates the property, which was built in 2000 with extension renovations and additions from 2023 to 2025. Lument’s Chris Cain, managing director based in Dallas, led the transaction. The Freddie Mac loan has a fixed interest rate, 10-year term with seven years interest only, 30-year amortization, and allows for cash-out proceeds. It refinanced an existing agency loan. Read More »
California SNF Secures Acquisition Loan
Greystone provided a $26 million bridge loan for the acquisition of a skilled nursing facility in California. The loan includes a 15-month term with a 12-month extension option at a floating rate and is full-term interest-only. Greystone intends to lead the borrower through a permanent financing solution with a HUD-insured loan. The financing was originated by Christopher Clare and Ben Rubin. Read More »
National Real Estate Investment Group Acquires 24-Property Portfolio
Ikaria Capital Group announced the successful funding of a $270 million term loan and $30 million preferred equity investment for a national private healthcare real estate investment group to support the acquisition of a 24-property skilled nursing and seniors housing portfolio located in the Pacific Northwest. First Citizens Bank led the bank syndicate in providing the first mortgage financing for the acquisition. The portfolio encompasses facilities across multiple states, each with varying levels of acuity. There are 1,584 skilled nursing beds, 90 assisted living units and 450 independent living units. The existing management team will continue to operate the facilities and will retain... Read More »
Detroit Redevelopment Sees Senior Apartment Conversion
KeyBank Community Development Lending and Investment provided $43.6 million in construction loans and arranged $7.6 million in permanent loans for the acquisition and rehabilitation of Lee Plaza in Detroit, Michigan. The 15-story, Art Deco historical landmark will be converted to affordable senior apartments. The building will include a total of 182 units, with 117 units restricted to individuals 55 years or older and 65 units available to families. All tenants are required to earn at or below 50% and 60% of area median income. The project, which was acquired by the city and subdivided into three separate condo units, will be completed in three phases. KeyBank financed the first two... Read More »Schedule a demo
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