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 »
Berkadia Finances Clarendale Clayton
Berkadia refinanced Clarendale Clayton, a best-in-class seniors housing community in Clayton, Missouri (St. Louis MSA), that offers the full continuum of care in a high-end, resort-style setting. Opened in 2021, the 13-story property features 283 units of independent living, assisted living and memory care (195 IL, 66 AL and 20 MC). Managing Director Austin Sacco of Berkadia Seniors Housing & Healthcare arranged financing through a national bank on behalf of the borrower, a joint venture between Harrison Street, Ryan Companies US, Inc., and Life Care Services (LCS). The $82.45 million floating rate loan (or $291,000 per unit) featured an attractive interest rate and five years of... Read More »
Dwight Capital Announces Q1 Activity
Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed $152.5 million in transactions during the first quarter of 2024. Among the transactions were a $44 million bridge loan for a 369-bed, seven-story skilled nursing facility in the Southwest U.S. The bridge loan, which closed in conjunction with a $5 million revolving line of credit, is expected to be refinanced through HUD in approximately 24 months. Adam Offman and Josh Sturm, Managing Directors of Healthcare, originated the transaction for a recurring client. Dwight also closed $26 million in HUD financing for River Towne Center and Etowah Landing, two SNFs in Georgia. The transaction included a $17.4 million refinance... Read More »Schedule a demo
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