Financing Obtained for SNF Portfolio Acquisition
First Citizens Bank announced that its Healthcare Finance business served as lead arranger of $115 million in financing for the acquisition of eight skilled nursing facilities in Illinois that comprise over 1,500 beds. The borrower is a Midwest-based healthcare real estate investment and management company that invests in a variety of post-acute facilities, with investments in over 24 states. Read More »
Arkansas Community Secures Financing
IPA Capital Markets, a division of Marcus & Millichap, announced the $35.53 million financing of Meadowview of Fayetteville, a 117-unit senior living community in Fayetteville, Arkansas. The ground-up development will feature 60 independent living units and 47 assisted living units. Frank Montalto secured the financing with a local bank on behalf of a private developer. Terms of the construction loan include a five-year term and 70% loan-to-cost at SOFR + 3.10%. Read More »
Berkadia’s Recent Activity
Berkadia has had a busy few months, filled with financing transactions and an investment sales closing. First, Jay Healy was engaged by three separate sponsors to finance four loans that total $66 million. At the end of June, Healy closed a $20 million bridge-to-HUD loan to refinance a maturing construction loan for PruittHealth. The three-year loan, structured in partnership with a publicly traded REIT, is interest only and prepayable at any time. The property is a 90-bed skilled nursing facility in North Tampa, Florida. PruittHealth developed the community in 2022 and has operated it since. In July, Healy closed a $12.3 million bridge-to-HUD loan for a Fort Worth, Texas-based... Read More »
CFG Closes Construction Loan
Capital Funding Group and Erickson Senior Living announced the closing of a $185 million construction loan to support the first phase of construction for The Grandview, a CCRC under development in Bethesda, Maryland. Phase I of this project, known as the West Village, will feature two 14-story buildings with a total of 501 independent living units. CFG closed the financing on August 16. The Grandview, once completed, will be a seven-building senior living campus where residents will benefit from an integrated health and wellness model, including a concierge-level primary care practice and access to a full continuum of care. Developed and managed by Erickson, the community will feature... Read More »
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 »Schedule a demo
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