Washington D.C. Area Community Secures Construction Financing
BWE arranged financing for The Reserve at Falls Church, a 215-unit senior living community in the West Falls mixed-use neighborhood. Ryan Stoll and Taylor Mokris facilitated the construction financing for this project, which is being financed by a syndication of commercial banks including Live Oak Bank and Huntington Bank. The loan features a five-year initial term with 48 months of interest-only payments. The Reserve will offer independent living, assisted living and memory care across 15 stories. It’s being developed by NexCore Group and its seniors housing operator, Experience Senior Living. NexCore partnered with an affiliate of Nuveen Real Estate to capitalize the project. This marks... Read More »
Seniors Housing Portfolio Secures Refinancing
Greystone arranged a $33.7 million debt placement to refinance a portfolio of seniors housing communities in the Pacific Northwest. David Young handled the transaction, working with banks, credit unions and unlevered, A/B tranched, and back-levered debt funds. The transaction is on behalf of a regional owner of affordable-focused seniors housing communities. The portfolio comprises four properties across two states. Each community also has a Medicaid contract to serve assisted living and memory care residents. The financing was provided by a debt fund meeting the borrower’s expectations on proceeds. Read More »
Kentucky and Tennessee SNFs Secure Financing
MONTICELLOAM announced the closing of a $22 million senior secured working capital facility, complementing the firm’s recent $400 million bridge financing for 29 Southeastern skilled nursing facilities. The working capital facility has a three-year initial term and will cover the day-to-day operating expenses of over 2,900 skilled nursing beds across Kentucky and Tennessee. The transaction was closed on behalf of a returning client. This $22 million transaction contributed to a record year for the firm in 2024, with the highest volume of asset-based loan originations in the firm’s history. Read More »
Sonida Acquires in Ohio
Cushman & Wakefield facilitated the sale of a seniors housing community in Cincinnati, Ohio. Built in 2022, Airy Hills at North Bend Crossing features 50 assisted living and 32 memory care units. However, the community was never opened due to foreclosure on the construction borrower. In 2019, Northmarq secured $18.2 million of construction debt from a regional bank, with a three-year, interest-only loan. In addition, the project received $5.5 million of PACE equity and another $5.3 million of equity to round out the capital stack. It did not help that the community sits adjacent to the 121-unit Wellington at North Bend Crossing Community that was developed by the same entity. Sonida... Read More »
Brookdale Secures Giant Fannie Mae Financing
JLL Capital Markets secured a $344.2 million agency lending for the Brookdale Senior Living Portfolio, comprising 47 senior living communities across 14 states with 5,102 independent living, assisted living and memory care units. The properties range from 42 to over 300 units. JLL represented the borrower, Brookdale Senior Living, to originate the seven-year, fixed-rate loan under its Master Credit Facility Agreement with Fannie Mae. Proceeds were used to repay $312.5 million of variable rate debt due September 2027. The loan will be serviced by JLL Real Estate Capital, LLC. JLL’s Capital Market’s Debt Advisory team representing the borrower was led by Managing Director Allison... Read More »Schedule a demo
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