SLR Provides Financing for SNF
SLR Healthcare ABL announced that it secured financing for a 160-bed skilled nursing facility. The asset-based revolving line of credit amounted to $4.0 million, and this was the only debt for the borrower, which leases the facility from a related property company that has a mortgage with a bank. The borrower is a Nevada-based operator of skilled nursing, post-operative care and specialized programs including orthopedic rehab, ventilator care and wound management. Proceeds of the loan were used to refinance existing debt and provide working capital to support growth initiatives such as continuing to leverage the facility’s strong respiratory and other specialty programs as... Read More »
CFG Secures $13.55 Million in HUD Loans
Capital Funding Group closed two HUD loans totaling $13.55 million to support the refinancing of two skilled nursing facilities. Both facilities are in Illinois, and together they comprise 173 beds. No other details surrounding the financing were disclosed. This announcement follows CFG’s closing of $16.25 million in bridge-to-HUD financing on behalf of a nationally recognized borrower for the acquisition of two Utah skilled nursing facilities that totaled 220 beds. This acquisition marked the borrower’s entrance into the state. Read More »
CBRE Secures Bridge Financing For Two Communities
CBRE secured bridge financing for two seniors housing communities in western Pennsylvania. Aron Will and Tim Root arranged a non-recourse loan with a sub-300 spread through a regional bank. The borrower was CPF Living Communities. Built in 2017, The Residence at Bethel Park is in Bethel Park with 130 independent living units. The Residence at Whitehall, built in 2018, is in Pittsburgh and comprises 127 independent and assisted living units. Both communities are currently managed by Grace Management, CPF LC’s wholly owned management affiliate. Read More »
G Capital Markets Closes Cash-Out Recap
G Capital Markets, a capital advisory firm based in Carmel, California, recently closed on the recapitalization of a 29-unit/59-bed assisted living community in Livermore, California. Built in 2021 by a regional owner/operator, the property leased up in 2022 and has shown consistent strong performance since then, with cash flow margins well over 40% and occupancy at 90%. Few today can boast numbers like those. The bridge-to-HUD loan was structured with a large equity-out component and sized to maximize the takeout refinancing, while allowing the borrower to submit a HUD application in 2024 without the need to wait for the typical two years of debt seasoning. GCap arranged the $15.5 million... Read More »
Cambridge Arranges Conventional Loan
Cambridge Realty Capital Companies arranged a $5.95 million conventional loan for the acquisition of Twilight Haven Senior Living, in Fresno, California. Brent Holman-Gomez, Cambridge Senior Vice President, handled the transaction. A California limited liability company obtained the fully-amortized, 25-year loan, which was underwritten by a Utah-based industrial bank. Previously owned by a not-for-profit organization, Twilight Haven comprises 60 independent living units, as well as 116 assisted living beds and 50 skilled nursing beds. The assisted living business is focused on the Medi-Cal Assisted Living Waiver program. However, the selling operator was in bankruptcy, and the... Read More »Schedule a demo
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