BHI Senior Living Secures Financing
Ziegler announced the closing of BHI Senior Living’s $32.0 million Series 2024AB bank loans. BHI is a faith-based not-for-profit organization that owns and operates 10 CCRCs across Indiana, Ohio and Michigan. The Series 2024AB bonds marks BHI’s eighth financing with Ziegler since 2000. BHI will finance two phases of new construction at Hoosier Village in Zionsville, Indiana. Hoosier intends to construct 20 independent living townhomes with 3,200 square feet each in two phases beginning spring 2024 and another in spring 2025 for a total of 40 units. BHI currently has a waitlist with over 400 households seeking an independent living unit in the community. Ziegler conducted a full bank search... Read More »
CFG Secures Bridge-to-HUD Loan for Massachusetts SNF
Capital Funding Group announced the closing of a bridge-to-HUD loan totaling $9.75 million on behalf of a nationally recognized borrower. The loan supports the refinancing of a 123-bed skilled nursing facility in Massachusetts. Tim Eberhardt, Craig Casagrande and Ava Julio handled the transaction. This financing follows CFG’s announcement of the closing of a $36.2 million bridge-to-HUD loan that supported the refinancing of five skilled nursing facilities in North Carolina. The facilities total 522 beds. CFG refinanced an existing loan to include two additional underleveraged facilities on behalf of a nationally recognized borrower. Read More »
HutsonWood at Spring Hill Secures Funding
Ziegler announced the closing of HutsonWood at Spring Hill, Inc.’s Series 2024 revenue bond anticipation notes. The notes are comprised of $14.67 million of Series 2024A tax-exempt notes sold publicly to institutional investors and $3.0 million of Series 2024B subordinate taxable notes purchased by an affiliate of the borrower. HutsonWood (dba Belle Springs), is a Tennessee not-for-profit organization that will use the proceeds of the notes to acquire approximately 20 acres of land and to finance certain pre-construction development costs related to an expansion and repositioning of an existing skilled nursing and assisted living community located in Spring Hill, Tennessee. Emerald Spring... Read More »
CBRE Secures Financing for Washington Asset
CBRE secured financing for a seniors housing community in Tacoma, Washington, on behalf of a joint venture between Harrison Street, PMB and GenCare Lifestyle. Built in 2020, GenCare Lifestyle Tacoma at Point Ruston comprises 159 independent living, assisted living and memory care units. The community fully opened in the fourth quarter of 2020 and leased up to 90% in 36 months, averaging four net move-in’s per month. Occupancy is currently hovering around 98%. Aron Will and Tim Root secured a three-year loan for this transaction. Read More »
Live Oak Bank Returns to Santee Seniors Housing Campus
Live Oak Bank closed a $27.0 million refinance with a repeat client for an assisted living/memory care community, The Ridge at Lantern Crest, situated on a larger campus, Lantern Crest, in Santee, California. Lantern Crest, operated by Lantern Crest Senior Living, is a 34-acre seniors housing campus developed by The Grant Companies. It offers independent living, assisted living and memory care. Development occurred in three phases, with Phase I being The Ridge at Lantern Crest, Phase II being The Pointe at Lantern Crest and Phase III being The Plaza at Lantern Crest. The Ridge, which opened in 2012, was originally built with 80 assisted living and memory care units. It was expanded... Read More »Schedule a demo
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