Helios Handles (and Helps Finance) Alabama Deal
Helios Healthcare Advisors was engaged by a Mississippi-based regional owner/operator in its sale of an assisted living and memory care community in Alabama. The seller, Veritas InCare, was divesting to exit the industry. The selected buyer was a local owner/operator. Andrew Wittenauer, Mario Santiago and Bill Janis of Helios handled the transaction. Despite the community’s strong performance, dislocation in the debt markets and low liquidity impacted the buyer’s ability to utilize its existing lending relationships to fund the purchase. So, Helios structured a financing package with a regional lender that recapitalized the buyer’s existing community to unlock equity, while simultaneously... Read More »
Investment Firm Acquires in Minnesota
JLL Capital Markets arranged the sale and financing, secured through Freddie Mac, for a Section 8, affordable seniors housing community in Stillwater, Minnesota. Rivertown Commons features 96 units across seven stories with 55,800 total square feet. JLL worked on behalf of the seller, Dominium Management, and procured the buyer, a mission-first investment firm that specializes in affordable and workforce housing. The buyer intends to invest additional capital to refresh the units and common areas in addition to extending the existing affordability restrictions. The JLL Investment Sales and Advisory team was led by Managing Director Josh Talberg and Senior Managing Director Doug Childers.... Read More »
Lument Closes Bridge Loan to Finance Three Senior Living Assets
Lument announced the closing of a $9 million bridge loan, which was funded directly from Lument’s balance sheet, to finance The Cottages Assisted Living and Memory Care, a portfolio of three properties in the Boise area: Alpine Meadows, The Cottages of Boise and The Cottages of Lochsa Falls. Rob McAdams handled the transaction. The transaction is structured as a single loan secured by the three assets and includes financing the acquisition of Alpine Meadows, a 34-bed assisted living community in Meridian, and refinancing existing debt of the Boise and Lochsa locations, both 32-unit assisted living and memory care communities in Garden City and Meridian, respectively. The loan terms include... Read More »
First Citizens Refinances Class-A Community
First Citizens Bank’s Healthcare Finance business provided a term loan to refinance a Class-A senior living community in a desirable location. GenCare Lifestyle Tacoma at Point Ruston comprises 159 units across six stories in Tacoma, Washington. The borrower is a joint venture led by Harrison Street. The same joint venture with PMB LLC served as the facility’s original developer in 2020, with GenCare Lifestyle, another joint venture partner, as the operator. Read More »
JLL Arranges Financing in New Mexico
JLL Capital Markets arranged refinancing for a seniors housing community in Rio Rancho, New Mexico. JLL secured the five-year, fixed-rate loan through a life insurance company. Built in 1997 and renovated in 2019, Fairwinds Rio Rancho features 220 independent living and assisted living units. It is three stories and comprises 211,213 square feet. Alanna Ellis, Jay Wagner, Aaron Rosenzweig and Alex Sheaffer handled the transaction on behalf of the borrower, Lytle Enterprises. Lytle’s portfolio consists of 18 independent living and assisted living communities that total 3,000 units, with an average property size of 157 units. Read More »Schedule a demo
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