Ziegler Closes Bond Financing
Ziegler announced the closing of Series 2024 bonds for Southwest Florida Retirement Center, Inc., a not-for-profit that owns/operates an entrance fee based CCRC, Village on the Isle. Ziegler has served as a strategic partner for the community since the late 1980s. Village on the Isle opened in 1982 and is situated on a 16-acre campus on the barrier island of Venice, Florida, less than one mile east of the Gulf of Mexico. The community currently comprises 234 independent living, 48 assisted living, 16 memory care and 64 health care units. Southwest Florida will use the proceeds of the Series 2024 bonds to construct 54 new independent living units to be known as Emerald Terrace – Tides... Read More »
Seniors Housing Portfolio Secures Refinancing
BMO Healthcare Real Estate closed a $156.5 million bridge loan for the recapitalization of five seniors housing communities totaling over 700 units in Washington, Oregon and Colorado. The near-stabilized portfolio is owned, operated and originally developed by Bonaventure Senior Living, a family-owned company based in Salem, Oregon. Bonaventure’s seniors housing portfolio is comprised of 28 communities and 3,900 units in Washington, Oregon and Colorado. Read More »
Berkadia’s Recent Activity
Jay Healy of Berkadia announced a series of financing closed on behalf of seniors housing clients in North Carolina and the West Coast. The largest was a $29 million HUD loan closed for a Scottsdale, Arizona-based owner/operator. The loan facilitated the release of a 117-unit assisted living/memory care community in Bakersfield, California, that was part of a collateral package for a bank loan secured by multiple properties. The borrower began operating the 1998-built community in May of 2019 when occupancy was 79% and subsequently purchased it from the REIT landlord in April of 2022. Occupancy at the time of the HUD closing had increased to the low 90% range. Healy also closed two bridge... Read More »
SNF Portfolio Receives Financing
CIBC Bank USA provided a $15 million working capital revolving line of credit for a portfolio of skilled nursing facilities in Maryland. Historical performance trended positively over the last year, as the facilities improved census and operating leverage. Going forward, occupancy and operating margins are expected to further improve. Dan Forrer handled the transaction for CIBC Bank USA. Read More »
California Communities Secure Financing
MONTICELLOAM, LLC, a specialized multifamily and seniors housing bridge lending platform, closed an $87.15 million bridge loan for 39 residential assisted living communities in Fresno, California. Expanding their relationship with MonticelloAM, the borrower plans to use the bridge loan proceeds to refinance the existing debt on the properties with the intent to secure long-term financing. Read More »Schedule a demo
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