Florida Portfolio Locks in Refinancing
MONTICELLOAM announced the financing of a senior bridge loan and working capital facility for three skilled nursing facilities in southern Florida, totaling $108.75 million. The sponsorship group, a repeat client of MONTICELLOAM, intends to use the $105.5 million floating-rate senior bridge loan to refinance the existing debt on the portfolio. The $3.25 million working capital facility will be used to cover the day-to-day operational needs of over 500 licensed beds across the three facilities. Read More »
Mississippi Seniors Housing Portfolio Secures Refinancing
Steven Muth and Andrew Lanzaro of Berkadia recently completed the refinancing of a four-property seniors housing portfolio in Mississippi for a Southeast-based owner/operator, which is a first-time Berkadia client. Proceeds of the $14 million HUD loan paid off bank debt and partnership debt from a previous addition funded by the sponsor. The two properties were built in 1998 with additions in 2003 and 2013. All four loans have 35-year fully amortizing terms. Read More »
Dwight Mortgage Trust Finances Bridge Loan
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, financed an $80 million bridge loan to facilitate the acquisition of a five-property skilled nursing portfolio located throughout central Florida. These facilities comprise a total of 518 beds and were 88% occupied. In conjunction with the 30-month bridge loan (which has a six-month extension option), Dwight Healthcare Funding provided a $12 million working capital line of credit to support the portfolio’s ongoing operational needs. This transaction was originated by Josh Sturm, Managing Director of Senior Housing and Healthcare. Read More »
Active Adult Community Secures Construction Financing
Berkadia announced the construction financing of Mera Lawrenceville, a 200-unit active adult community in Lawrenceville, Georgia. Austin Sacco, Steve Muth and Garrett Sacco secured the construction financing through Texas Capital Bank on behalf of a joint venture sponsored by Sparrow Capital Partners. The community, 30 miles northeast of downtown Atlanta, is located in a master planned, by-right site in a high-barrier-to-entry market and is in close proximity to Primary Care Center of Georgia, multifamily homes and retail. Read More »
Public Finance Authority Issues Bonds to Finance AL/MC Community
Wisconsin-based Public Finance Authority plans to issue $132.4 million in bonds to finance a retirement community in Potomac, Maryland. The revenue bonds will finance the acquisition, construction and outfitting of the ISF – Potomac Senior Living rental retirement community. The project will feature approximately 68 assisted living units and 26 memory care beds. Proceeds from the bond sale will also be used to fund a debt service reserve, capitalized interest for about 31 months and cover working capital and issuance costs. The offering is structured in two tranches: $128.4 million in Senior Series 2025A bonds, which are tax-exempt, and $4 million in Senior Series 2025B bonds,... Read More »Schedule a demo
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