• CFG Provides Simi Valley Refinance

    Capital Funding Group (CFG) announced that it provided a $40 million loan to refinance an assisted living/memory care community in Simi Valley, California, with Meridian Capital Group arranging the transaction. Griffin Living, a large privately held real estate developer, obtained the loan, which repaid an existing construction loan and provided... Read More »
  • Pennant Releases Q2 Earnings

    The Pennant Group, Inc. has announced second quarter earnings for the year, coming out with adjusted diluted earnings of $0.14 per share, which is down from the year-ago quarter’s $0.17 per share but in line with various expectations. It seemed that more focused operations and portfolio pruning offset labor and inflationary headwinds. It also... Read More »
  • Greystone Provides $47 million in HUD Financing

    Greystone has provided a total of $47 million in HUD financing for five skilled nursing facilities in California, Connecticut, North Carolina and Ohio. The debt comprised $8.2 million for a 35-bed skilled nursing facility in San Diego, California, a $10.5 million loan for a 103-bed facility in Dayville, Connecticut, an $8.1 million loan for a... Read More »
  • 60 Seconds with Steve Monroe: Brookdale Has Great Start To Third Quarter

    Brookdale Has Great Start To Third Quarter Nearly two years ago, we wrote that the first half of every year was a census downer for the industry, but that the third quarter was always a winner. We are making history, or better said, you are making history. The first half of this year has been a winner, which it should have been because of the... Read More »
  • Avanath Acquires Northern California Portfolio

    Avanath Capital Management has acquired a six-property multifamily and affordable seniors housing portfolio in the Sacramento, California market. The communities sold for $182 million, or $176,400 per unit, and expand the real estate investment firm’s presence in the Northern California market.  The entire portfolio consists of four multifamily... Read More »
Highland Meadows Health & Rehab Refinances

Highland Meadows Health & Rehab Refinances

Greystone has provided $12.75 million in bridge financing for the acquisition of Highland Meadows Health & Rehab. Now owned and operated by HACO Health Solutions LLC, this 120-bed skilled nursing facility sits on 7 acres in the greater Dallas area. Originally built in 2015, the five-star facility has a plethora of amenities and services. Such services include physical, occupational, speech therapies, specialized programs such as ortho, stroke recovery, post-surgical and cardiac rehabilitation.  Greystone is a private national commercial real estate finance company. This financing is the company’s third in Texas since the start of 2022, although the other two were not in seniors... Read More »
Northmarq Refinances Seattle Senior Living Campus

Northmarq Refinances Seattle Senior Living Campus

Northmarq has completed a $33 million refinancing of The Gardens at Town Square. This 168-unit seniors housing community in Bellevue, Washington features independent living, assisted living and memory care. The loan comes with a 10-year fixed rate term and a 30-year amortization, with one year of interest-only payments. This ultimately retired $20.4 million in existing agency debt and returned equity to the borrower.  Northmarq arranged the financing for the borrower and operator, ERA Living. Northmarq has an annual transaction volume of $33 billion and a loan servicing portfolio of more than $70 billion. Read More »
VIUM Capital Closes Three Bridge Loans 

VIUM Capital Closes Three Bridge Loans 

VIUM Capital announced a healthy spree of bridge loan activity for skilled nursing clients in the last couple of months. All of the loans were interest only during the term, which ranged from two to three years. The largest was a $74.51 million bridge-to-HUD loan to support the acquisition of 11 skilled nursing facilities in Arkansas (10) and Mississippi. The portfolio was being sold by three different sellers, but VIUM closed all transactions under one bridge loan in less than 60 days from executed term sheet.  Next, VIUM arranged a $36.27 million bridge loan to refinance a portfolio of five skilled nursing facilities in Louisiana. The not-for-profit borrower had various tax-exempt bond... Read More »
Artemis, MorningStar and American Capital Group Refinance in Washington State 

Artemis, MorningStar and American Capital Group Refinance in Washington State 

CBRE National Senior Housing arranged financing on behalf of a joint venture between Artemis Real Estate Partners, MorningStar Senior Living and American Capital Group to refinance an independent living community in Kirkland, Washington. Set on 3.56 acres, the community recently opened in February 2022 with 152 IL units and is the first independent living asset built in the high-barrier-to-entry, affluent Kirkland market in the last 13 years.   Before it opened, the project (plus another in-progress, 141-unit development in Hillsboro, Oregon) was acquired in January 2021 by the joint venture. It is situated next to the 409-unit multifamily development called Lifebridge Kirkland... Read More »
Popular Bank Adds to CRE Team 

Popular Bank Adds to CRE Team 

Popular Bank, a subsidiary of Popular, Inc., appointed Adam R. Bavifard to be Senior Relationship Manager in the bank’s Commercial Real Estate (CRE) Lending team. In his role, Mr. Bavifard will focus on growing the bank’s CRE business through expanding current customer relationships and bringing Popular’s product offerings to new customers.   Based in New York, Mr. Bavifard joins Popular from M&T Bank, where he held several roles of increasing responsibility in their commercial bank, most recently managing multi-product portfolios totaling over $600 million in loan commitments with $150 million in deposits. Earlier in his career, Mr. Bavifard was with The Dak Group where he... Read More »
Capital Funding Group Finances Another Acquisition 

Capital Funding Group Finances Another Acquisition 

Capital Funding Group (CFG) announced the closing of a $10.57 million bridge-to-HUD loan for the acquisition of an 84-bed skilled nursing facility in Pittsgrove, New Jersey. Capital Funding Group Managing Director, Long-Term Care Tim Eberhardt and Senior Associate Ava Julio originated the transaction for the company.  This announcement follows the recent closings of two deals: $17.2 million in bridge-to-HUD financing for the acquisition of two skilled nursing facilities in Arizona and a $11.26 million bridge loan for the acquisition of a 121-bed skilled nursing facility in Sacramento, California.  Read More »