CFG’s Recent Financing Activity
Capital Funding Group announced it financed over $41 million across three transactions from mid-February to early March. The transactions supported four skilled nursing facilities and an assisted living and memory care community spread throughout the country and were executed on behalf of nationally recognized borrowers. First, in February, CFG secured a $27 million bridge-to-HUD loan for the refinancing of three SNFs in South Carolina and Missouri that comprise 397 beds. CFG refinanced and upsized the debt on a portfolio, allowing the borrower to recoup operational losses resulting from a re-tenanting process. Next, in February, CFG secured an $8 million bridge-to-HUD loan, which included... Read More »
Fairview Secures Bond Anticipation Notes
Ziegler announced the closing of Fairview’s $7.5 million Series 2025A bond anticipation notes (BANs) through the Connecticut Health and Education Facilities Authority. Not-for-profit Fairview has a 70-acre campus on the Groton, Connecticut waterfront, and it features several facilities providing rehabilitation services and options for independent living. Fairview currently has 164 total units consisting of 100 skilled nursing beds and 64 independent living beds. The BANs will be used to fund predevelopment costs for a campus repositioning project with the objective of transforming the current healthcare-oriented campus into a more modern and sustainable CCRC model. As part of the... Read More »
Not-For-Profit Secures Bond Financing
Ziegler announced its closing of $230.25 million of Series 2025 bonds for a Texas not-for-profit organization, Bella Vida Forefront Living (formerly known as Bella Vida at La Cantera Forefront Living). The proceeds will be used, together with other available funds, for the purpose of financing and refinancing the cost of acquiring, developing and constructing a new retirement community, including the refinancing of Bella Vida’s outstanding Series 2023 bond anticipation notes. They will also be used to fund a debt service reserve fund, fund capitalized interest through March 1, 2027, and pay costs of issuance of the Series 2025 bonds. Forefront Living, a Texas not-for-profit organization,... Read More »
Financing for Covenant Living Communities and Services
The Colorado Health Facilities Authority plans to issue $148.6 million of bonds to pay for certain costs linked to long-term care facilities operated by Illinois-based not-for-profit organization Covenant Living Communities and Services. Covenant operates a continuing care system of retirement communities, assisted living communities and skilled nursing facilities on behalf of the Board of Benevolence of The Evangelical Covenant Church. The authority will loan the proceeds from the Series 2025A revenue bonds to Covenant, which will use them for the payment of the costs of acquiring, constructing, remodeling, renovating and equipping long-term care facilities. The proceeds will also be used... Read More »
Focus Healthcare Partners Secures Acquisition Financing
BMO’s Healthcare Real Estate Finance group closed on a $36.25 million facility for Focus Healthcare Partners to finance the acquisition of a seniors housing community in Bethesda, Maryland. Focus will bring on Solera Senior Living to manage the community. Built in 2019, Brightview Bethesda Woodmont comprises 92 assisted living and 21 memory care units and will be rebranded as Modena Reserve at Bethesda. Occupancy was around 86% when Focus acquired the community. Newmark handled this transaction and arranged the five-year acquisition financing, with a three-year interest-only period, from BMO. Read More »Schedule a demo
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