Stabilized Class-A IL Community Secures Refinancing
Greystone arranged a $43.5 million debt placement to refinance a seniors housing community in Oregon. The 142-unit property is a recently built and stabilized Class-A independent living community. The community had strong trailing cash flows, on a shorter trailing period, but an upward trend. The financing was sourced by David Young. The debt placement, with a regional bank, includes a competitive floating rate priced in the 200s over SOFR, enabling the sponsor to refinance existing senior and subordinate construction debt, return capital to investors, and position the asset for a future permanent agency execution. Greystone targeted both banks and debt funds to source financing that... Read More »
Cindat Capital Management Invests in Colorado Community
Cindat Capital Management, a middle-market real estate private equity platform focused on seniors housing and opportunistic investments, announced its first investment from its Senior Housing Credit Platform. It was a unitranche debt investment in The Pearl at Boulder Creak, a 116-unit, Class-A independent living and assisted living community built in 2023 in Boulder, Colorado, adjacent to the University of Colorado campus. The community is supported by a strong sponsor and an experienced operator. The asset aligns with CCM’s strategy of investing in seniors housing assets with strong operations, a desirable physical plant and a secure competitive market positioning. Blueprint’s Ben... Read More »
Forbright Bank’s H1 Activity
Forbright Bank reported its activity for the first half of the year from its healthcare and HUD lending teams, announcing more than $500 million in loans closed for acquisitions, recapitalizations, working capital, and HUD financings for healthcare providers across the country. One of the largest transactions was a $60 million revolving loan to finance working capital for 49 skilled nursing facilities with over 5,000 beds in Texas. Forbright also participated as a co-lender as part of a larger term loan totaling $45.5 million that supported the recapitalization of 16 seniors housing properties across multiple states. One borrower obtained a $17.9 million term loan from Forbright to... Read More »
Large SNF Portfolio Secures Financing
MONTICELLOAM, LLC announced the closing of $218.3 million in combined bridge, mezzanine, and working capital financing for 18 skilled nursing facilities across Kentucky. The transaction includes a $179.3 million senior bridge loan and a $29 million mezzanine loan, which the sponsor plans to use to restructure and upsize the existing debt on the portfolio, originally financed by MONTICELLOAM in May 2024. The $10 million working capital line of credit will be used to cover the day-to-day operational needs of over 1,500 skilled nursing beds across the state. Read More »
Greystone Provides Bridge Loan for Affordable Seniors Community
Greystone provided a $40 million bridge loan to acquire and rehab a seniors housing community in The Bronx, New York. The financing was originated by Senior Managing Director Eric Rosenstock and Executive Vice President Jeff Englund on behalf of a joint venture between Scott Jaffee of Metropolitan Realty Group and Leo Friedman of Citadel Care Centers. Built in 1969, Kittay House comprises 295 affordable seniors units with social, recreational, and educational programs on-site as well as meals, housekeeping and easy access to healthcare and supportive services. Greystone’s interest-only non-recourse bridge loan carries a 24-month term with two six-month extension options. Read More »Schedule a demo
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