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 »
Fortress Investment Group Purchases in Arizona
Marcus & Millichap was engaged by a private, family office merchant builder in its divestment of a fully stabilized seniors housing community in Arizona. Built in 2019, Inspira at Arrowhead comprises 165 independent living, assisted living and memory care units in Glendale. Nick Stahler, Hamid Panahi and Steve Gebbing of Institutional Property Advisors, a Marcus & Millichap company, handled the transaction. Alanna Ellis and Alex Sheaffer of JLL arranged acquisition financing for the deal. There were multiple offers from institutional private equity and public REITs. The winning bidder, a joint venture between Fortress Investment Group, LLC and COGIR Senior Living, was ultimately... Read More »
CFG Secures Bridge Refinance for Ohio Portfolio
Capital Funding Group announced the closing of a $65 million bridge loan to support the refinance of nine senior care facilities in Ohio. The portfolio includes one independent living community, one assisted living community, and seven skilled nursing facilities totaling 709 beds. The financing was closed on behalf of a nationally recognized borrower. Capital Funding, LLC Managing Director, Real Estate Finance, Craig Casagrande and Capital Funding, LLC Associate Catherine Mansel originated the transaction for the company. Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
