VIUM’s End-of-Summer Surge
VIUM Capital is closing out its summer with a bang, announcing 15 transactions totaling more than $180 million in volume in July and August, alone. The majority of those closings were HUD 232/223f transactions that paid off bridge loans originally originated by VIUM over the last few years. In 2024 to date, VIUM has closed over $500 million of debt transactions, with more to come in the remaining months of the year. It is also worth noting that in less than five years since its launch, VIUM has now funded over 200 senior debt transactions in the seniors housing and healthcare real estate sector, totaling over 400 properties in more than 30 states. It is forecast to surpass $5 billion of... Read More »
PSJB Secures Bond Financing in Washington
Ziegler announced the closing of the Parkshore Juanita Bay (PSJB) $62.42 million Series 2024 bonds through the Washington State Housing Finance Commission. Ziegler pressed the max yield below 6% despite an aggressive five-year par call feature. PSJB constructed The Gardens at Juanita Bay, an assisted living community in the Juanita Bay neighborhood on the shores of Lake Washington, in 1977. And in December 2018, PSJB affiliated with Presbyterian Retirement Communities Northwest dba Transforming Age. In 2021, management announced plans to develop and convert the existing The Gardens at Juanita Bay into a new 50-unit independent living community to be named Parkshore Juanita Bay. The... Read More »
Chicago Pacific Founders & Grand Park Capital Secure Refinance
JLL Capital Markets secured $115 million in bridge financing for a seniors housing portfolio on behalf of Chicago Pacific Founders and Grand Park Capital. The refinance consists of a three-year, non-recourse loan, secured through Ally Bank to take out existing debt. The financing markets responded favorably to the strength of the ownership and asset-level performance, and the loan closed as proposed and on schedule. The four-asset Town Village Portfolio is primarily comprised of independent living and totals 852 units across Alabama, Tennessee, Oklahoma and Michigan. Built between 2000 and 2002 and having undergone renovations by the sponsors since, the assets are strategically... Read More »
Northland Networks Funds Arkansas Acquisition
Northland Networks, which was acquired by First National of Nebraska in 2023, has closed a number of transactions so far this year, most recently arranging two acquisition loans for CCRCs in Arkansas. Both previously owned and operated by Evangelical Lutheran Good Samaritan Society, the assets were part of the not-for-profit’s exit from 15 states and consolidation of its services to the Midwest. The CCRCs are located in Hot Springs Village and Mountain Home, Arkansas, and attract higher income seniors in their respective areas. Hot Springs Village was built between 1986 and 2006 and features a combination of 90 independent living units (including six two-unit buildings and a 78-unit... Read More »
Ohio Senior Care Community Secures Refinancing
Capital Funding Group announced the closing of a $12.5 million bridge-to-HUD loan, which supported the refinancing of an existing bridge loan. The deal supported a 175-bed skilled nursing and assisted living community in Ohio. Craig Casagrande handled the transaction, which closed July 18, 2024. Read More »Schedule a demo
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