CIBC Secures Refinancing for North Carolina SNF portfolio
CIBC Bank USA and a Greystone Monticello affiliate, along with other co-lenders, recently provided 980Investments, owned by Simcha Hyman and Naftali Zanziper, with $137.0 million in total financing. The credit facilities were used to refinance a North Carolina portfolio of skilled nursing facilities that comprise 1,135 beds. CIBC additionally provided a $6.5 million revolving line of credit to support the ongoing operations of the third-party tenant. Financing was handled on behalf of Greystone by Karina Davydov and Danny Sweeney, and on behalf of CIBC by Matthew Tyler and Neal Netzel. Read More »
Not-For-Profit Secures Financing For Michigan Facilities
Ziegler announced the closing of Sunset Manor Inc.’s $52.1 million Series 2024A and Series 2024B bonds through the Public Finance Authority. Sunset Manor is a 501(c)(3) organization that owns and operates four facilities in Jenison, Grandville and Grand Haven, Michigan. The bonds consist of four sub-series: $20.7 million in revenue refunding bonds (Series 2024A-1), $6 million in revenue bonds (Series 2024A-2), $20.4 million in revenue refunding bonds (Series 2024B-1) and $5 million in revenue bonds (Series 2024B-2). The proceeds of the Series 2024 bonds will be used to refinance its existing debt, finance $11 million for capital expenditures, and pay for costs of issuance associated with... Read More »
CareTrust Announces Latest Investments
Building on its active investment year, so far, CareTrust REIT announced a major loan origination in the form of a $260 million senior mortgage loan and a $43 million preferred equity investment in connection with the borrower’s acquisition of a 37-facility skilled nursing and seniors housing portfolio in the Pacific Northwest. The portfolio comprises 2,713 operating beds/units with 21 skilled nursing facilities and 16 seniors housing facilities located in Oregon, Washington, Alaska, Arizona, Idaho, California, Montana and Nevada. The borrower, a joint venture between a large health care real estate owner and a subsidiary of PACS Group, acquired the 37 facilities, which will be operated... Read More »
CBRE Refinances Class-A Active Adult Community
CBRE arranged a refinance for a Class-A active adult community in the Atlanta, Georgia MSA, on behalf of a joint venture between Capitol Seniors Housing and Bain Capital Real Estate. Built in 2023, Outlook Gwinnett features 180 units within an 89-acre, master-planned community called The Exchange of Gwinnett in Buford. It is managed by Greystar Real Estate Partners. Aron Will and Adam Mincberg originated the interest-only loan through a debt fund enabling the community to complete lease-up in its dynamic MSA. CBRE also financed the construction of the community in 2022. Read More »
Financing Secured For Two Seniors Housing Communities
Capital Funding Group closed two bridge loans that support two seniors housing communities. The loans total $23.45 million and the communities are in Florida and Michigan. The first transaction closed in June, and the second in July. On June 27, CFG closed an $8.95 million financing for Lithia Assisted Living, LLC, supporting the refinancing of Twin Creeks Assisted Living and Memory Care. Twin Creeks is an 80-unit assisted living/memory care community in Riverview, Florida. Then, on July 22, CFG completed $14.5 million in acquisition financing on behalf of Investor Land Holding of Brighton, LLC. The loan facilitated the acquisition of Hampton Manor of Brighton, which comprises 73... Read More »Schedule a demo
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