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 »
Carnegie Capital Secures Acquisition Financing
JD Stettin, Managing Partner of Carnegie Capital, helped finance the acquisition of a non-performing senior care campus in Dallas, Texas. The debt will also help cover around $9 million in planned renovations at the 119-bed campus. Built in 2001 with a recent 2018 renovation, Crystal Creek at Preston Hollow features a range of care levels including skilled nursing, assisted living and memory care. At the time of marketing, occupancy in both the seniors housing and skilled nursing was rapidly declining. Due to the skilled nursing component not being licensed to accept Medicaid, the campus consistently struggled to lease up the beds with Medicare & private pay residents, which resulted... Read More »
Shealy Launches Grace Hill Capital
Ziegler alum Adam Shealy founded Grace Hill Capital in December 2023, building upon nearly two decades of experience as a senior banker at leading investment banks in the United States and Europe. GHC is a specialized capital markets advisory firm dedicated to seniors housing and health care, headquartered in Sarasota, Florida. It currently offers tailored capital solutions for senior living investors, ranging from bridge and permanent debt for acquisition, refinance, recapitalization, construction and rehabilitation. GHC services also include specialized underwriting, capital structure advisory and debt placement services for skilled nursing, assisted living, memory care and independent... Read More »Schedule a demo
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