Ziegler Works on Financings for Two Not-For-Profits
Ziegler worked on two financings for separate not-for-profits. First, Ziegler closed $39.24 million Series 2025 tax-exempt, fixed rate bonds for Bethesda Senior Living Communities (BSLC). The bonds were issued through the Colorado Health Facilities Authority. It has been seven years since its last financing in 2018. BSLC and its parent organization, Bethesda Foundation, own/operate 20 seniors housing communities in Arizona, Colorado, Missouri, Nebraska and Texas. BSLC’s portfolio includes 595 independent living, 1,359 assisted living and 282 memory care units. Bethesda Foundation is a faith-based 501(c)(3) corporation based in Colorado Springs, Colorado. BSLC and Bethesda Foundation... Read More »
CBRE Closes SNF Loan in Utah
Jason Stein and DJ Elefant of CBRE’s Debt & Structured Finance platform closed an acquisition loan for a skilled nursing facility in Utah. CBRE worked with a local Utah lender to arrange a $6.426 million loan that featured a 10-year term and a competitive 5.72% interest rate with no prepayment penalty. The loan came out to 75% LTC. Read More »
Dwight Mortgage Trust Finances Bridge Loan
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, financed a $20 million bridge loan for Bria of Palos Hills, a 207-bed skilled nursing facility in Palos Hills, Illinois (Chicago MSA). Originally built in 1980, the facility received a major renovation and expansion in 2016 with the addition of a two-story wing connected to the original single-story structure. The original building primarily serves long-term care residents, while the newer extension is designed for short-term rehabilitation and post-acute care. Then in September 2023, one of the wings was converted into a specialized dialysis and ventilation unit, further enhancing the facility’s ability to provide high-acuity... Read More »
Texas Capital Bank Provides Financing to Regional Operator
A California-based regional senior care operator with more than 20 facilities across the western United States recently obtained a revolving credit facility, arranged by Grant Goodman of G Capital. Proceeds from the $30 million facility will be used to support working capital requirements and continue the owner’s strategic expansion as new acquisition opportunities arise. It was structured as a non-recourse, accounts receivable-based facility that includes several borrower-friendly features atypical in the current credit environment, including no prepayment penalty, a 180-day borrowing base and advance rates inclusive of assisted living waiver Medicaid. Priced at a highly competitive... Read More »
Harbert Management Corporation Secures Financing for California Community
Live Oak Bank provided a $25 million bridge-to-sale loan to finance a seniors housing community near Los Angeles, California. Harbert Seniors Housing Fund I LP, which is managed by Harbert Management Corporation, is the borrower. The financing features a three-year initial term, 36 months of interest-only payments and $2.8 million in potential future earnout proceeds. The property totals 97 independent living, assisted living and memory care units. Read More »Schedule a demo
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