Several HUD and Acquisition Financings Close
Ikaria Capital Group has had a prolific Fall and revealed several recent transactions. The largest was a $115.5 million HUD refinance for four skilled nursing facilities in Georgia. Derek Whelan originated the loans on behalf of Empire Care Centers and The Portopiccolo Group, which used the proceeds to refinance a proprietary bridge loan structured by the Ikaria team in 2022. Whelan was also joined by Rodger Davis to close a $44.5 million HUD refinance in the Midwest. Wrapping up the HUD activity, Ross Holland originated a $10.9 million loan in the Pacific Northwest on behalf of a new client. Lastly, there were a couple of acquisition loans. First, Davis... Read More »
Active Adult Community Secures Freddie Mac Refinance
An active adult community in Hurst, Texas, paid off its existing bank debt with a Freddie Mac refinance arranged by Berkadia. Heritage Village Residences was built in 2014 with 120 units, including 10 cottages. It was part of multiple acquisitions over the years, first in 2020 when Edison Equity Management Corporation bought it for $23.3 million and invested approximately $500,000 in renovations. As a result of the property renovations, management was able to significantly increase in-place rents. Then, in December 2022, Edison Equity sold the property to an out-of-state buyer in an “off-market” process with a local broker who represented an out-of-state buyer with an existing Dallas-Fort... Read More »
Bank Provides Refinance to Family Office
BHI, the U.S. branch of Bank Hapoalim, provided a $29.0 million loan for the refinancing of an assisted living and skilled nursing facility in West Palm Beach, Florida. Gold Standard of Care Group, a Florida-based family office with a focus on healthcare and senior care and over $150 million in assets, was the borrower. Totaling 70,272 square feet, the property was originally built in 1995. Significant renovations were completed in 2023 and 2024. Amenities at the community include a salon, bistro, chapel, courtyard, concierge, game room, gym, library, transportation, lounges, private dining and a spa room. Colonial Assisted Living Management operates the facility. According to... Read More »
VIUM’s Slew of Financings
We have written about the uptick of liquidity in the seniors housing and care market, and the willingness among lenders to write bigger and bigger checks to finance larger portfolios. Well, VIUM Capital just announced a slew of financings totaling more than $180 million for four senior care portfolios. The largest was arranged for three skilled nursing facilities totaling 357 beds in Florida. Sponsorship had acquired the facilities in September 2022 and had since materially improved operations through increased occupancy, RUG optimization and limited contract nursing. Occupancy ranged between 87% and 92% as of August 2025. A bridge loan provided by VIUM Capital via Merchants Bank of... Read More »
Two Not-For-Profits Close Separate Bond Issues
Ziegler closed an $80.0 million tax-exempt fixed-rate bond issue for Brazos Presbyterian Homes (BPH). The Series 2025 bonds were issued through the New Hope Cultural Education Facilities Finance Authority. BPH owns and operates three continuing care retirement communities in Texas. Brazos Towers at Bayou Manor, which opened in 1963, sits on a seven-acre campus between Meyerland and West University, two neighborhoods in Houston, Texas. The Hallmark was acquired by BPH in 1972 and comprises five acres in the heart of the Galleria neighborhood of Houston. Longhorn Village opened in 2009 and was acquired by BPH in 2018. It is on 55 acres within the planned development known as “Steiner Ranch”... Read More »Schedule a demo
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