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 »
HUD-Backed Seniors Housing Community Opens on Long Island
A HUD-financed seniors housing project has celebrated its grand opening in Bay Shore, New York. Netherbay at Bay Shore is a state-of-the-art assisted living/memory care community located at the historic Gulden family’s summer homestead on Long Island. It features 72 units and is operated by Meridian Senior Living. Greystone’s Lisa Fischman had originated the $26 million construction-to-permanent HUD loan in 2023, which was the only healthcare construction loan in the United States approved by HUD that year. With construction complete, the financing converts to a 40-year, fully amortizing, non-recourse, fixed, low-rate loan. Read More »
Joint Venture Secures Refinancing for Class-A Seniors Housing Community
CBRE National Senior Housing handled two refinancings in separate transactions. First, CBRE arranged a refinance of Bruceville Point on behalf of a joint venture between Tenfold Senior Living and AEW Capital Management. Tenfold manages and operates the community. Aron Will and Tim Root originated a three-year floating-rate loan with full-term interest only through a regional bank. Bruceville Point is a 137-unit, Class-A seniors housing community in Elk Grove, California. It offers independent living, assisted living and memory care. The common areas include three dining venues (including a bistro), club room, living room, movie theater, fulltime staffed fitness studio, art studio,... Read More »Schedule a demo
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