VIUM Capital’s Record 2024
VIUM Capital recorded its highest revenue producing year in the firm’s young history, closing 56 transactions totaling nearly $900 million in par in 2024. The financings varied from bridge to permanent debt (both taxable and tax-exempt) and funded 82 separate properties in more than a dozen states across the country. Of the financings, 37 were HUD/GNMA loans through HUD’s 232/223(f) program, totaling over $450 million of par. VIUM finished the 2024 fiscal year as the #2 ranked HUD healthcare lender in the country in both total volume and number of transactions closed. The year also witnessed VIUM’s HUD/GNMA servicing book surpassing $1 billion, securing multiple HUD Corporate Credit... Read More »
CIBC’s Recent Activity
CIBC Bank USA provided a $16 million acquisition financing term loan and a $2 million working capital revolving line or credit for a portfolio of skilled nursing facilities in Vermont. Historical performance trended positively over the last year, as the facilities improved census and operating leverage. Fritz Kieckhefer and Kyle Doran handled the transaction for CIBC. Additionally, Kieckhefer and Doran of CIBC provided an Illinois owner/operator with a $5.2 million term to finance the owner’s recent acquisition of two skilled nursing facilities in central Illinois. The tenant had taken over operations in the middle of 2024 from a small local operator, and has since improved performance... Read More »
Joint Venture Secures Refinancing
CBRE National Senior Housing closed a HUD 232/223(f) refinance for Cordia at Grand Traverse Commons on behalf of a joint venture between Cordia Senior Living and Cypress Partners. CBRE had previously arranged financing for the community in 2017 and 2021. Cordia at Grand Traverse Commons is a 110-unit independent living and assisted living community in Traverse City, Michigan. The community has a Home for the Aged license exemption, therefore, it is unlicensed and all of the beds/units are considered board and care. It will continue to be operated by Cordia. The community is within the Village at Grand Traverse Commons, one of the largest historic preservation and adaptive reuse... Read More »
Christwood Secures Financing
Ziegler closed a $33.78 million tax-exempt bond issue for Christwood, a Louisiana-based not-for-profit. The Series 2024 bonds were issued through the Louisiana Local Government Environmental Facilities and Community Development Authority and are not rated. Christwood operates a CCRC in Covington, Louisiana. Built in 1996, Christwood sits on 117 acres and currently comprises 161 independent living residences (of which there are 143 apartments and 18 cottages), 34 assisted living units, 29 cognitive care units and 30 skilled nursing beds. The proceeds of the Series 2024 bonds will be used to refinance the not-for-profit’s outstanding debt, finance certain improvements at the community... Read More »
Wisconsin AL Community Changes Hands
On the heels of his closing in Minnesota, Bob Richards of Senior Care Realty headed over to Wisconsin to sell a small assisted living community in Dane County. Built in the mid-1990s, the community featured 20 units and a mostly Medicaid census. But occupancy was 100%, and the community operated at a strong margin above 30%. That is impressive, considering its size. It ended up being too small for the regional owner/operator’s typical model, so it sold to an East Coast owner/operator with a growing Wisconsin portfolio. The purchase price came to $1.8 million, or $90,000 per unit. VIUM Capital helped finance the acquisition for the buyer, which has now purchased four small assets in the... Read More »Schedule a demo
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