DHC Closes Freddie Mac Financing
Diversified Healthcare Trust closed a nine-figure Freddie Mac financing secured by seven seniors housing communities in five states. Totaling 1,184 units, the assets are managed by Five Star Senior Living, the operating division of AlerisLife Inc. The $109 million loan comes with a 10-year term and a 6.22% fixed interest rate, with interest only payable during the first five years. It matures on May 1, 2035, and DHC intends to use the loan proceeds to redeem a portion of its outstanding 9.75% senior notes due in 2025. Based on the 2024 NOI for the seven collateral communities, the appraised value of $236 million reflects an implied cap rate of 7.3%, or approximately $199,000 per... Read More »
CFG Provides Interim Financing
Last month, Capital Funding Group closed a $53.4 million bridge-to-HUD loan, providing interim financing to facilitate the refinancing of a maturing loan supporting two skilled nursing facilities and one assisted living community in Victorville, California. CFG intends to refinance the loan into permanent, long-term debt through HUD. Patrick McGovern handled the transaction. This transaction follows CFG’s recent announcement highlighting the closing of $50.5 million in subordinate financing, which contributed to a nationally recognized borrower’s $375.5 million loan. The transaction supported the refinancing of 25 SNFs featuring 3,243 beds across the country. CFG restructured two existing... Read More »
Greystone Provides Bridge Financing to Oxford Capital Group
Greystone provided $41 million in bridge financing to Oxford Capital Group for the acquisition of six assisted living communities totaling 372 beds in Minnesota. The financing was originated by Christopher Clare with assistance from David Young, Ryan Harkins, Ben Rubin, Parker Nielsen and Liam Gallagher. Greystone’s $41 million interest-only, non-recourse bridge loan carries a 24-month term with two six-month extension options. The acquisition financing for the properties in the Minneapolis area and northern Minnesota enabled the borrower to close the transaction and begin working with Greystone on securing permanent HUD financing. In March, Oxford purchased 11 assisted living communities... Read More »
Southeast Owner/Operator Secures HUD Refinancing
Berkadia’s Steve Muth and Andrew Lanzaro closed two loans totaling $5.1 million using HUD’s 232/223(f) program for a Southeast-based owner/operator of seniors housing communities and a repeat Berkadia client. The refinancing paid off the remaining bank debt for a crossed pool of four assets in Mississippi comprising 157 total units (149 assisted living and eight memory care). The two earlier loans closed in late 2024 due to their opportunity zone location, which allowed for expedited processing. The total loan proceeds of $14 million also retired partnership debt from a prior addition funded by the sponsor. Two of the assets were built in 1998 with additions about 10 years ago, one... Read More »
Dwight Capital and Dwight Mortgage Trust Close Impressive Q1:25 Activity
Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, closed $521 million in seniors housing financings during the first quarter. The transactions included significant bridge and HUD loans for skilled nursing facilities and assisted living communities in multiple states. DMT provided a $54.6 million bridge loan to finance the acquisition of a six-property, 925-bed skilled nursing portfolio in Pennsylvania. The properties include Hampton House (Wilkes Barre), Kingston Rehabilitation (Kingston), Pottsville Rehabilitation (Pottsville), Williamsport Bort and South Rehabilitation (Williamsport) and Yeadon Rehabilitation (Yeadon). In conjunction with the bridge loan, Dwight Healthcare... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
