Maryland SNF Portfolio Secures Refinancing
First Citizens Bank’s Healthcare Finance business served as lead arranger for a $260 million loan to refinance a portfolio of 12 skilled nursing facilities in Maryland that comprise over 1,500 beds. The borrower, a new client, is a Midwest-based healthcare real estate investment and management company. It invests in a variety of post-acute facilities with investments in over 24 states. At $173,000 per bed of debt, the portfolio must be performing quite well. No other details were disclosed. Read More »
Helios Secures Working Capital for California AL/MC Community
Helios secured working capital for a Southern California assisted living provider. The working capital loan is for The Artesian, a 64-unit assisted living and memory care community in Ojai, California. It was constructed in 2020 and consists of four, 16-unit buildings that utilize a universal worker model. A capital infusion was required to cover operating deficits until the community achieved stabilization and to reconfigure additional units to memory care as the market showed a strong demand for this. An offer from a private debt fund was procured to finance the transaction. The final product was a term loan securitized through a second deed of trust and subject to specific... Read More »
Joint Venture Secures Construction Financing for Seniors Housing Community
CBRE arranged construction financing on behalf of a joint venture between a seniors housing owner/operator and an institutional investor for a seniors housing community in the Washington, D.C. MSA. The community will consist of independent living, assisted living and memory care. Aron Will and Adam Mincberg secured the construction loan through a syndication of two national banks. Read More »
CFG Secures Bridge-to-HUD Loan for Maryland Facility
Capital Funding Group announced the closing of a bridge-to-HUD loan totaling $20.0 million on behalf of a nationally recognized borrower. The loan supported the refinancing of a 125-bed skilled nursing facility in Maryland. This financing follows CFG’s closing of a $65.0 million bridge loan to support the refinancing of a nine-facility senior care portfolio in Ohio on behalf of a nationally recognized borrower. The portfolio includes one independent living community, one assisted living community and seven skilled nursing facilities totaling 709 beds. Read More »
BMO Provides $140.6 Million in Bridge Financing
BMO Healthcare Real Estate provided $70.6 million in bridge financing to a joint venture of New Perspective Senior Living, Boldt Capital and Fengate Asset Management, for the recapitalization of two Class-A seniors housing communities. The communities total 290 units in Franklin and Waukesha, Wisconsin. Loan proceeds include capital allocated for future capital improvements and value enhancement. In a separate transaction, BMO provided $70.0 million in bridge financing to the same joint venture for the recapitalization of three Class-A seniors housing communities. The communities total 435 units and are in suburban Milwaukee, Wisconsin (two communities), and West Fargo, North Dakota. Loan... Read More »Schedule a demo
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