Bain Capital and Capitol Seniors Housing Refinance Near Manhattan
JLL Capital Markets announced that it arranged a $48 million refinancing for two Class-A seniors housing communities in New York and New Jersey. JLL’s Seniors Housing Debt Advisory team worked on behalf of the borrower, Bain Capital Real Estate and Capitol Seniors Housing, to place the three-year, floating-rate loan with a large regional bank. The Chelsea at New City was built in 2021 and consists of 80 assisted living, memory care and respite care units. On-site amenities include restaurant-inspired meals, beauty/barber salon, sports lounge, health and wellness programs, daily activities calendar, computer lab, movie theater, transportation services and more. The... Read More »
Private Investor and Operator Close Refinance
CBRE National Senior Housing arranged a refinancing for Meadowbrook on behalf of a joint venture between Harrison Street Asset Management and Dial Senior Living. Aron Will and Tim Root arranged the financing, originating a four-year floating-rate loan. Situated near downtown Kansas City in Prairie Village, Kansas, Meadowbrook consists of four stories with a total of 222 units, including independent living, assisted living and memory care. Harrison Street has closed 332 communities totaling more than 43,000 units since 2005. Seniors housing operator Dial Senior Living manages 24 communities across Nebraska, Iowa, Illinois, Missouri, Kansas and Colorado. The... Read More »
Benchmark Senior Living and National Development Expand Partnership
A national developer/investor engaged Blueprint to sell a high performing, Class-A community owned in their legacy debt fund vehicle. The asset sits in White River Junction, Vermont, and was developed in 2019 by local citizens Brooke Ciradelli and Byron Hathorn. They partnered with LCS to operate the building, The Village at White River Junction, which offers 80 assisted living and memory care units. In the community’s earlier days of operation, Columbia Pacific Advisors had provided a $29 million refinancing loan to the project to address cash-flow and lease-up problems. The developers failed to pay their debt, resulting in foreclosure and a transition of... Read More »
National Bank Provides Acquisition Term Financing
BMO’s Healthcare Real Estate Finance group acted as sole lender on an acquisition term financing for Belmont Village Aliso Viejo, a trophy 156-unit assisted living/memory care community in Aliso Viejo, California. The community is owned by Harrison Street Asset Management and Belmont Village Senior Living. Belmont Senior Living operates the community, and developed it. It originally opened its doors in 2019. Aron Will and John Sweeny of CBRE handled the sale. Will and Matthew Kuronen arranged the four-year, floating-rate acquisition loan with a full term of interest only. Read More »
Brookdale Boosts Short Term Stability
Brookdale Senior Living completed a series of financing transactions totaling approximately $600 million that refinanced all of its remaining 2026 mortgage debt and maturities, around $350 million, and a portion of 2027 mortgage debt maturities, approximately $200 million. The company also secured more fixed-rate debt, helping to cut rate risk. Even with some variable-rate debt, the overall blended rate has not changed much, with yearly interest expense staying roughly the same. This is beneficial for balance sheet stability, even if it didn’t actually reduce total debt or annual net interest expense, and some refinancing risk just got pushed to 2027. A smart move for near-term... Read More »Schedule a demo
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