Forbright Bank Reports Active 2024
Forbright Bank’s Healthcare and HUD lending teams closed 2024 with strong deal activity. Last year the Healthcare and HUD lending teams provided more than $400 million in financing to organizations in more than 12 states. In one recent transaction, Forbright provided a $40 million bridge loan for the acquisition of three seniors housing facilities in Oregon. Underwriting was done in conjunction with Forbright’s HUD team. In another recent transaction, the bank provided a $38 million term loan and $5 million revolver for the acquisition and renovation of two skilled nursing facilities in Massachusetts by an experienced regional operator with a strong presence in the state.... Read More »
Class-A Community Secures Refinancing
BMO’s Healthcare Real Estate Finance group acted as sole lender on a term loan refinancing of $30 million for The Solana East Cobb, a Class-A, 94-unit assisted living and memory care community in the Atlanta, Georgia MSA. The community has been operated by The Arbor Company since its original opening in 2019. Arbor manages 49 seniors housing communities across 11 states. Read More »
Monarch/REDICO Joint Venture Secures Refinancing
Marathon Asset Management’s Commercial Real Estate platform originated a $154.5 million mortgage loan to a joint venture between Monarch Alternative Capital LP and REDICO to fund the refinance of The American House Florida Portfolio. Marathon’s Joseph Griffin originated the senior acquisition loan. Aron Will and Adam Mincberg of CBRE arranged the financing, marking CBRE’s second financing of this portfolio within a three-year time span. The portfolio comprises six purpose-built seniors housing communities with 817 units (409 independent living, 306 assisted living and 102 memory care). Five were built between 2015 and 2018 in strong Florida markets. REDICO has been invested in the... Read More »
CIBC Provides SNFs Financing
CIBC Bank USA provided a $67 million term loan to finance the acquisition of five skilled nursing facilities and the refinance of 21 skilled nursing and assisted living facilities located throughout Wisconsin. CIBC also provided an aggregate $21 million of working capital via multiple revolving lines of credit to 53 skilled nursing/assisted living facilities primarily located in Wisconsin. The borrowing group had recently received substantial reimbursement support from the state. Peter Kane and Michael Velazquez handled the transaction for CIBC Bank USA. Read More »
Local Operator Secures Acquisition Financing
JLL Capital Markets arranged $39.98 million in acquisition financing for a portfolio of three seniors housing communities totaling 344 units in Eugene and Springfield, Oregon, on behalf of a local operator. JLL secured the three-year, floating-rate financing from a regional bank. The JLL Seniors Housing Capital Markets team representing the borrower was led by Senior Director Alanna Ellis and Associate Alex Sheaffer. The portfolio comprises Evergreen Senior Living, Timber Pointe and Woodside Senior Living, which together offer 43 independent living, 245 assisted living and 56 memory care units. All of the properties were built between 1996 and 2006 and were fully renovated in... Read More »Schedule a demo
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