Ziegler Announces Funding For Two Seniors Housing Assets
Ziegler announced the closing of a private placement of subordinate senior living revenue bonds (the Series 2023 bonds) on behalf of Convivial Life, Inc., a Florida not-for-profit organization. Jacaranda Trace, owned by Convivial Life, is part of a multi-phase master developed campus originally built in 1998 consisting of 436 independent living, 19 assisted living and 36 memory care units on approximately 33 acres in Venice, Florida. In June 2022, the borrower used a portion of the proceeds of the issuance of Series 2022 bonds in the total amount of $96,870,000 to acquire the majority of the community. The acquisition also included eight undeveloped villa lots and an approximately 2.2-acre... Read More »
CFG Secures HUD Loan For Pennsylvania SNF
Capital Funding Group closed a $9.5 million HUD loan to refinance an existing bridge loan also executed by CFG. The refinancing supported a 173-bed skilled nursing facility in Pennsylvania owned by a nationally recognized borrower. Capital Funding Group’s Craig Casagrande and Andrew Jones originated the transaction. The financing follows the company’s recent closing of a $7.2 million HUD loan, which supported the refinancing of a 162-bed skilled nursing facility in Kentucky. Read More »
Financing Secured for Seniors Housing Expansion
Conifer Realty, LLC, a national, full-service real estate company specializing in the development, construction, management, and ownership of high-quality, affordable housing communities, and Community Preservation Partners (CPP), a mission-driven affordable housing preservation developer, announced the planned renovation of Andrews Terrace in New York. The 526-apartment building complex is located on Rochester’s waterfront and exclusively caters to seniors and disabled residents (and their families). This is the second joint community investment for Conifer and CPP in Rochester, following Keeler Park, which was purchased in October 2022. Built in 1975, Andrews Terrace consists of two 19-... Read More »
VIUM Capital Finishes Successful 2023
In what was an especially difficult year for the lending environment, VIUM Capital made 2023 its second-most productive year in the firm’s history, with over $915 million in closings across 39 transactions. The financings consisted of bridge and permanent debt (both taxable and tax-exempt) that funded 106 separate properties in 19 states. VIUM also completed a $1.1 billion securitization of its bridge healthcare book, and the firm plans to complete another securitization. Its HUD business should lay the foundation of a successful 2024, as well. VIUM has a large book of bridge loans that become eligible for a HUD or Ginnie Mae exit. Those closings, combined with its usual bridge loan... Read More »
Virginia CCRC Finances Expansion
Ziegler announced the closing of Williamsburg Landing’s $76.91 million Series 2024A, 2024B and 2024C bonds (together, the Series 2024 Bonds). Williamsburg Landing is a CCRC on 138.56 acres in Williamsburg, Virginia. The campus was originally built in 1982 and now comprises 317 independent living units, 73 assisted living units, 36 memory care units and 58 skilled nursing beds. It is accredited by the Commission on Accreditation of Rehabilitation Facilities (CARF), with its most reaccreditation in 2019. In 2018, the campus acquired 15.3 acres of undeveloped land adjacent to the existing campus, on which they will develop an expansion known as Anchor Cove that will feature 27 terrace homes,... Read More »Schedule a demo
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