Ziegler Secures Bond Financing
Ziegler announced the closing of RiverWoods Exeter’s Series 2024 bonds totaling $39.68 million of par amount for the senior living finance practice. RiverWoods is a not-for-profit that owns/operates a three campus CCRC in Exeter, which is within the Seacoast Region of New Hampshire. These campuses reside on a contiguous parcel of over 200 acres. The operations of The Woods, The Ridge and The Boulders campuses began in 1994, 2004 and 2010, respectively. Across its three campuses, RiverWoods includes 393 independent living units, 71 assisted living units and 78 nursing beds for a total of 542 units. Riverwoods is also affiliated with two other CCRC’s managed by a supporting corporation, the... Read More »
Large SNF Portfolio Secures Financing
MONTICELLOAM closed a $400 million bridge loan for a 29-facility skilled nursing portfolio with over 2,900 beds across Kentucky and Tennessee. A MONTICELLOAM firm affiliate acted as the agent, with Huntington National Bank as joint lead arranger. The borrower was an experienced owner/operator with a large skilled nursing portfolio. This announcement follows other recent MONTICELLOAM transaction sizes of $87.15 million, $87 million and $18 million. Read More »
Two IL Communities Secure Acquisition Financing
BMO’s Healthcare Real Estate Finance group announced it closed on a $34 million facility for affiliates of Focus Healthcare Partners to finance the acquisition of Novel Place at Overland Park, a 109,000-square foot, 134-unit independent living community in Overland Park, Kansas, and Novel Place at Blue Springs, a 109,000-square foot, 134-unit independent living community in Blue Springs, Missouri. The communities were each originally developed in 2020 and were each around 95% occupied. Focus has hired Evolve Senior Living to manage the communities. Read More »
Institutional JV Secures Refinancing
CBRE National Senior Housing refinanced Mirabelle, a Class-A seniors housing tower in South Miami, Florida, on behalf of an institutional joint venture. The Arbor Company will continue to manage the community, which was built in 2019 and features 22 stories and 212 units, including 142 independent living, 45 assisted living, 12 connected living and 13 memory care units. Set in an affluent submarket, the community also boasts an array of high-end amenities like a pool terrace, wine room with a 22nd floor view, and full-service hair and nail salon. Aron Will and Adam Mincberg helped the borrower in arranging a $63.5 million, three-year, interest-only loan, with other attractive terms. Read More »
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 »Schedule a demo
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