Class-A Community Secures Financing
Walker & Dunlop arranged $25.9 million in permanent financing for Rivertown Ridge, a seniors housing community in the Grand Rapids, Michigan MSA. Built in 2019, Rivertown comprises 152 independent living, assisted living and memory care units. It is a Class-A community that sits on a larger, 120-acre master-planned community. Mary Stuart Hurst and Russell Dey of W&D partnered with Inner Circle Holdings to structure the 10-year, fixed-rate Fannie Mae loan with three years of interest-only payments to Redstone Group Management Inc. Read More »
Georgia Community Secures Refinancing
EBSC Lending provided $23.7 million to refinance a 201-unit seniors housing community in Union City, Georgia. The financing includes a three-year, fixed-rate loan with extension options that replaces the existing construction loan. The community, completed in phases between 2016 and 2017, offers independent living, assisted living and memory care. Unit options include studio, one-bedroom and two-bedroom layouts. Read More »
Carnegie Capital Announces Q4 SNF Closings
JD Stettin of Carnegie Capital announced his fourth quarter financing activity, which included acquisition loans closed for four skilled nursing facilities in Texas. Two facilities were located in the northern part of the state, and the other two were near the Mexican border. They combined for 430 beds. Vintages varied, but the older facilities had recently received capex. The existing operator purchased the facilities from three different sellers for an average purchase price of $80,000 per bed. In the previous year, that operator had created significant value at the facilities relative to their long term lease rate. Each acquisition was funded separately through a combination of bridge... Read More »
Walton Street Affiliate Acquires in Texas
Berkadia completed the sale and financing of a Class-A seniors housing community in Austin, Texas. The independent living, assisted living and memory care community was built in 2016 and expanded in 2019. The community’s occupancy rate exceeded 95% at the time of sale with robust cash flows. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers represented the seller, Artemis Real Estate Partners. The property was acquired by an affiliate of Walton Street Capital LLC and will continue to be managed by Texas-based Civitas Senior Living. Austin Sacco, Steve Muth and Garrett Sacco secured acquisition financing through a national bank. The financing, which featured an attractive... Read More »
Tremper Capital Group’s Recent Financing Activity
Tremper Capital Group announced some recent financing activity, including a $10.5 million loan secured to refinance a recently renovated assisted living and memory care community in the Dallas, Texas MSA. The three-year floating-rate bridge loan with a regional bank provides the client time to execute on the in-place business plan. This is a new lending relationship for TCG’s client. TCG also secured a land acquisition loan for a repeat client, Harbert South Bay Partners. The floating-rate loan placed with a regional bank provides Harbert with flexibility to navigate the permitting process for the development of a three-story, 170-unit independent living, assisted living and memory care... Read More »Schedule a demo
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