Naples Senior Living Community Secures Refinancing
BWE arranged a $76 million refinance on behalf of a joint venture between Harbert Management Company and Senior Resource Group for The Carlisle Naples, a Class-A senior living community in Naples, Florida. Ryan Stoll and Taylor Mokris facilitated the financing. Built in 1998, The Carlisle features 257 independent living and 93 assisted living units on more than 18 acres and is operated by SRG. After acquiring the community in September 2021 for $101.5 million, or $290,000 per unit, when it was just 68% occupied, the joint venture completed an extensive capital improvement plan during the pandemic, driving both occupancy and rates post-renovation. The community is in a prime Naples location... Read More »
Montgomery Intermediary Group Closes First Loan
A few months after Montgomery Intermediary Group announced it was adding a healthcare real estate debt placement vertical alongside its investment sales platform, Jeremy Warren (the man hired to develop the new vertical) closed the group’s first loan. He successfully sourced and closed a refinance for a portfolio of three assisted living communities in Kansas. Built more than 20 years ago, the communities each feature between 20 and 30 units with a mostly Medicaid waiver census. Occupancy was nearly full at three of the locations, with very strong operating margins. The portfolio also benefited from a recent Medicaid waiver rate increase. There were three other similar communities that... Read More »
VIUM’s Recent Financings
As part of its record-breaking 2024, VIUM Capital closed three HUD 232/223f refinancing transactions totaling approximately $70 million for Texas-based Priority Management Group. The HUD loans paid off existing bridge debt and owner’s notes from acquisitions that occurred three years ago. Priority Management Group is a senior living owner/operator in Texas and Louisiana, and is a long-time client. The transaction was led by Scott Blount of VIUM. Additionally, in November, VIUM closed a $21 million bridge loan ($17 million initial and a $4 million earnout) for a 134-bed SNF in North Carolina. The recapitalization was used to pay off existing debt and a shareholder note, and to provide... Read More »
VIUM Capital’s Record 2024
VIUM Capital recorded its highest revenue producing year in the firm’s young history, closing 56 transactions totaling nearly $900 million in par in 2024. The financings varied from bridge to permanent debt (both taxable and tax-exempt) and funded 82 separate properties in more than a dozen states across the country. Of the financings, 37 were HUD/GNMA loans through HUD’s 232/223(f) program, totaling over $450 million of par. VIUM finished the 2024 fiscal year as the #2 ranked HUD healthcare lender in the country in both total volume and number of transactions closed. The year also witnessed VIUM’s HUD/GNMA servicing book surpassing $1 billion, securing multiple HUD Corporate Credit... Read More »
CIBC’s Recent Activity
CIBC Bank USA provided a $16 million acquisition financing term loan and a $2 million working capital revolving line or credit for a portfolio of skilled nursing facilities in Vermont. Historical performance trended positively over the last year, as the facilities improved census and operating leverage. Fritz Kieckhefer and Kyle Doran handled the transaction for CIBC. Additionally, Kieckhefer and Doran of CIBC provided an Illinois owner/operator with a $5.2 million term to finance the owner’s recent acquisition of two skilled nursing facilities in central Illinois. The tenant had taken over operations in the middle of 2024 from a small local operator, and has since improved performance... Read More »Schedule a demo
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